Litecoin (LTC) Price Analysis – August 24
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
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.
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