LTC / USD Mid-term trend: bearish
Resistance levels: $ 58, $ 59, $ 60
Support levels: $ 54, $ 53, $ 52
The LTC price was in a lateral trend yesterday and the price fell to the minimum of $ 55.80. Cryptocurrency was assumed to fall back to the minimum prior to $ 40.10, if the downward trend continued. Meanwhile, the sideways price rose to a maximum of $ 60.15 and then fell to a low of $ 56.23.
Today the LTC price has fallen to a low of $ 51.74 and could reach the support level at $ 50. From the chart, 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 14 index 14 is level 23 which indicates that the market is oversold which suggests bulls take control of the market.
LTC / USD Short-Term Trend: Bearish
From the 1- hour table, the LTC price is in a downward trend. The price fell to a low of $ 50.44 and retired to a maximum of $ 51.73. However, the LTC price is lower than the 12-day EMA and 26-day EMA, indicating that the price is decreasing. Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal.
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