LTC / USD Medium-Term Trend: Bearish
Strength Levels: $ 60, $ 70, $ 80
Support Levels: $ 50, $ 40 $ 30
Yesterday, September 6, the LTC price was in a bearish trend. The LTC price has dropped to its lowest before $ 53.90. The cryptocurrency started a bullish movement from its minimum. If the level is not maintained, the price of Litecoin will fall to the minimum prior to $ 50. However, if the price level is valid, it starts long trades at the current market price and a stop loss below the price level of $ 50.
If the position becomes profitable, bring the stop-loss orders to the break-even point. Furthermore, 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 38 which indicates that the market is oversold which advises the bulls to take control of the market.
Short-term LTC / USD: bullish
In 1 hour chart, the LTC price is in an uptrend. The LTC price started a bullish movement. The price of Litecoin is higher than the 12-day EMA and the 26-day EMA which indicates that an upward trend is under way. The MACD line and the signal line are above the zero line indicating a purchase signal.
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