LTC / USD Mid-term trend: Bearish
Resistance levels: $ 65, $ 66, $ 67
Support levels: $ 60, $ 59, $ 58
Yesterday, August 8, the price of Litecoin was in bearish trend. The LTCUSD pair is another cryptocurrency that comes out of an area with a range limit, but later fell to a low of $ 61.67 as of yesterday. Downward pressure is temporarily suspended, but the digital asset is in a sideways trend. 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 a downward trend is under way. The Relative Strength Index 14 is level 25 which indicates that the market is oversold and advises the bulls to take control of the market. Given that the market is oversold, downward pressure would be exhausted, traders should look for purchase configurations to start long exchanges.
LTC / USD Short-Term Trend: Bearish
On the 1- hour table, the LTC price is in a downward trend. The price of Litecoin is decreasing because the price of the digital asset is lower than the 12-day EMA and the 26-day EMA. 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