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LTC / USD medium-term trend: bearish
Strength levels: $ 66, $ 68, $ 70
Support levels: $ 50, $ 48, $ 46
Yesterday, 2 October, the price of Litecoin was in a bearish trend. This downward trend was interrupted by the movement linked to the range above the price level of $ 60. The LTC price exceeded the upper level of the previous price range. The price of the digital currency is approaching the price level of $ 50, which was the previous lower level of the price range.
The price may stop or fall to a minimum of $ 47.67. 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. Period 14 of the relative resistance index is level 35 which indicates that the market is oversold and advises the bulls to take control of the market.
Short-term LTC / USD trend: bearish
In the 1 hour chart, the LTC price is in a downward trend. The digital currency has dropped from its previous maximum of $ 60 and the price is close to the price level of $ 57. The price is Litecoin now lower than the 12-day EMA and the 26-day EMA indicating that there is a downward trend. The MACD line and the signal line are below the zero line indicating the sales signal.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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