LTC / USD Mid-Term Trend: Bullish
Strength Levels: $ 60, $ 65, $ 70
Levels of support: $ 50, 45, $ 40
Yesterday, September 18, the price of Litecoin was in an uptrend. The bottom line is that the price of Litecoin is between the levels of $ 60 and $ 50. Therefore, if the price was bearish at the minimum of the support zone; it would be bullish as it reaches the resistance level. Today, Litecoin's price is $ 54.24 and varies horizontally after an initial upward movement from the low of $ 51.28. Trading is not necessary as the price varies horizontally.
However, if the price reaches the upper level of the price range, a short trade should be initiated. This is if the resistance level was not broken. 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 period 14 of the relative resistance index is level 49 which indicates that the price is in the lateral trend zone.
LTC / USD short-term trend: bullish
In the 1 hour chart, the LTC price is in an uptrend. The price 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 sales signal.
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