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LTC / USD Medium-term trend: Bearish
Resistance levels: $ 67, $ 68, $ 69
Levels of support : $ 65, $ 64, $ 63
Yesterday, August 7, the price of Litecoin was in a lateral trend. The bears had broken the support level at $ 74, but the price returned to the border area. It is likely that the LTC price will continue its movement linked to the range. However, today bears have priced at a minimum of $ 66.82. This is the first minimum since the beginning of this year. Traders should look for purchase configurations after falling bearish pressure.
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 25 which indicates that the market is oversold which suggests bulls take control of the market.
LTC / USD Short-Term Trend: Bearish
On the 1- hourly chart, the price of Litecoin is in a downtrend. The price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that the price is decreasing. The MACD line and the signal line are below the zero line indicating a 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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