LTC/USD Medium-term Trend: Bullish
Resistance Levels: $60, $65, $70
Support Levels: $50, 45, $40
Yesterday, September 18, the price of Litecoin was in a bullish trend. The bottom line is that the price of Litecoin is range bound between the levels of $60 and $50. Therefore, if the price was bearish to the low of the support zone; it would be bullish as it ranges to the resistance level. Today, the price of Litecoin is at $54.24 and is ranging horizontally after an initial bullish movement from the low of $51.28. Trading is unnecessary as the price is ranging horizontally.
However, if the price reaches the upper level of price range, a short trade should be initiated. That is if the resistance level was not broken. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, 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 49 which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the LTC price is in a bullish trend. The price is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The MACD line and the signal line are above the zero line which indicates a sell signal.
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