Litecoin price analysis (LTC) – 11 September


  Chart Litecoin, LTCUSD, CryptoCompare Chart Litecoin for Trading View

LTCUSD Medium-term trend: Bearish

Strength levels: $ 60, $ 65, $ 70

Levels of support: $ 50, $ 45, $ 40 [19659005] Yesterday, the price of Litecoin was in a bearish trend. Today it is range with a bearish trend, $ 50 is the lowest level in the range and the support level higher than Litecoin's price. If the price reaches the lowest level in the price range and the level is waiting, a long trade should be started.

So stop-loss orders should be placed below the price level of $ 50 to drive against sudden price rupture. When the price reaches the resistance zone, you can exit your long trade around the upper band at $ 60. The same strategy should be adopted when a short trade is made at the upper level of the price range.

Meanwhile, the LTC price is lower than the 12-day EMA and the 26-day EMA which indicates that a bearish trend continues. The MACD line and the signal line are below the zero line indicating a sales signal.

Short-term trend LTCUSD: Bearish

 Litecoin, LTCUSD, CryptoCompare chart Litecoin Chart by Trading View

In the 4-hour chart, the LTC price has a downward trend. The cryptocurrency is now approaching the price at $ 53. Meanwhile, the period relative to Relative Strength 14 is level 40 which indicates that the market is oversold which suggests the bulls to take control of the market.

The opinions and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your research.

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