LTC/USD Medium-term Trend:Bearish
Resistance Levels: $75, $76, $77
Support Levels: $70, $69, $68
Yesterday, August 6th, the price of Litecoin was in a bearish trend which resulted in the breaking of the range-bound zone. Later, price pulled back into the range bound zone. However, the cryptocurrency was making another attempt to retest the support level. Today, the LTC price has retested the support level and it is now in a sideways trend at a price of $0.43.
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 indicate that the bearish trend is ongoing. The relative strength index period 14 is level 40 which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend:Ranging
On the 1-hour chart, the price of Litecoin is in a sideways trend. The price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicate that price is a sideways trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
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