LTCUSD Medium-term Trend: Bullish
Resistance Levels: $70, $80, $90
Support Levels: $60, $50, $40
Last week, the price of Litecoin was in a bullish trend. On August 27th, the cryptocurrency made a bullish movement to the upper level of the price range but was twice resisted at a price of $62. Later, the price fell to the low of $59 and made another bullish movement to the upper level of price range at a price of $67.80. Today, the price of Litecoin has retraced to the low of $64.46 which is a support level.
The price is expected to rise because it is out of the range-bound zione. Also, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. However, the MACD line and the signal line are below the zero line which indicates a sell signal.
LTCUSD Short-term Trend: Ranging
On the 4-hour chart, the LTC price is range-bound. The price is above the 12-day EMA and the 26-day EMA which indicates that the price of Litecoin is rising. 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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