Litecoin (LTC) Price Analysis – August 24


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Litecoin (LTC) Price Analysis – August 24

litecoin-ltc-price-analysis-august-24

  • The price bars are above the exponential moving averages indicating that price is rising.
  • The LTC price is likely to fluctuate between the levels of $58 and $55 horizontally for some days to come.

Litecoin Chart by Trading View

LTCUSD Medium-term Trend: Ranging

Resistance Levels: $60, $61, $62                                                                                                                       

Support Levels: $57, $56, $55

The price of Litecoin is range-bound. The cryptocurrency has no significant price movement. Yesterday, the price of Litecoin closed at a price of  $55.71. Today, the LTC price is approaching the price of $57. The price of Litecoin is not likely to trade at the key levels of the market. It will likely be fluctuating between the levels of $58 and $55 horizontally for some days to come.

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 the price is falling.

LTCUSD Short-term Trend: Ranging 

LTCUSD 4-Hour (August 24)TV.pngLitecoin Chart by Trading View
           

On the 4-hour chart, the LTC price is range-bound.  The price bars are above the exponential moving averages indicating that the price is rising. However, the price of Litecoin, the 12-day EMA and the 26-day EMA are trending horizontally indicating that the price is in a range bound zone. Meanwhile, the Relative Strength Index period 14 is level 55 which indicates that the price is in the range bound zone.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.          .



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