LTC / USD Mid-term trend: Bearish
Strength levels: $ 60, $ 70, $ 80
Support Levels: $ 50, $ 40, $ 30
Yesterday, September 5, the LTC price was bullish. The cryptocurrency stood at $ 68.58 while trying to reach the $ 70 level. But the bears took control of the market and brought the price to a minimum of $ 55.66. This implies that the LTC price has now returned to the previous limit zone of $ 60 and $ 50 levels.
However, if the bearish pressure continues, the cryptocurrency will revisit the previous minimum of $ 50. In addition, the MACD line and line of the signal are below the zero line indicating a purchase 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 27 which indicates that the market is oversold which advises the bulls to take control of the market.
Short-term LTC / USD: Bearish
In 1 hour chart, the LTC price is in a bearish 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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