LTC / USD Medium-Term Trend:
Strength Levels: $ 54, $ 55, $ 56
Support Levels: $ 52, $ 51, $ 50
Yesterday, on August 20th, the price of Litecoin was in a lateral trend. The price of cryptocurrency fell to a minimum of $ 55.78. Today the LTC price is now falling and the price has fallen to a low of $ 53.28. However, if the downtrend continued, the price of Litecoin would be revisited compared to the previous minimum of 14 August. Traders should look for the purchase setting as the price drops to the previous minimum.
However, the MACD line and the signal line are on a par with 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. Period 14 of the relative resistance index is level 39 which indicates that the price has reached the oversold region which suggests the bulls take control of the market.
LTC / USD Short-Term Trend:
From the 1 hour chart, the LTC price is in a bearish trend. The price of Litecoin fell to a low of $ 53.28, but started a bullish movement to reach the previous high in the market. Meanwhile, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that the price is falling.
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