LTC / USD Medium-term trend: Bearish
Resistance levels: $ 78, $ 80, $ 82
Support levels: $ 76, $ 74, $ 72
Yesterday, August 2, the LTC price was still in bearish trend. The cryptocurrency is approaching the support level at $ 74 of the limit zone of the interval. The market has been so silent and there does not seem to be a significant price movement. However, the price of $ 74 is a critical support level that has not been interrupted since the start of this year.
Traders can start long trades and a stop loss at $ 350. From the chart, 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 period relating to the strength index 14 is level 33 which indicates that the market is oversold which suggests that the bulls take control of the market.
LTC / USD Short-Term Trend: Bearish
From the 1- hour table, the LTC price is in a downward trend. The LTC price is lower than the 12-day EMA and the 26-day EMA which indicates that the price is decreasing. Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal.
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