LTC / USD Medium-term trend:
resistance levels: $ 65, $ 66, $ 67
Support levels: $ 60, $ 61, $ 62
Yesterday, August 9, the price of Litecoin was in a lateral trend. The downward trend brought the price to a minimum of $ 61.67 and the LTC price resumed a movement tied to the interval. The LTC price horizontally floats at the price of $ 62. The distance movement could produce another trend. Therefore, traders should not start any trade until the direction of the market is known.
Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal. In addition, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that there is a downward trend. The Relative Strength Index 14 is level 30 which indicates that the market is oversold which advises the bulls to take control of the market.
LTC / USD Short-term:
In 1 hour chart, the LTC price is in a lateral trend. The price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that there is a downward trend. The MACD line and the signal line are below the zero line indicating a sales signal.
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