LTC/USD Medium-term Trend: Ranging
Resistance Levels: $58, $59, $60
Support Levels: $54, $53, $52
Yesterday, August 15th, the LTC price was in a bullish trend. The digital currencies rose from the low of $51.05 to the high of $58.73. However, the LTC price was resisted and the price fell to the low of $55.90. Since on August 12, the price of Litecoin has been fluctuating between the levels of $60 and $50. If the LTC price is to depreciates further the support level at $50 has to be broken.
Today, the price of Litecoin will be fluctuating between the levels of $60 and $50.Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 44 which indicates that price in the sideways trend zone.
LTC/USD Short-term Trend: Bullish
From the 1-hour chart, the LTC price is in a sideways trend. The price of Litecoin is ranging at a price of $54.88. Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal.
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