Litecoin price analysis (LTC) – 3 August



  Litecoin, LTCUSD, chart CryptoCompare Litecoin Chart for Trading View

Litecoin price Medium-term trend: Bearish

Strength levels: $ 78, $ 80, $ 82

Levels of support: $ 74, $ 72, $ 70

Yesterday, August 2, the price of Litecoin was falling. The cryptocurrency price was not able to exceed the $ 74 support level. This was because the level of support was a critical aspect that has never been broken since the start of the year. If LTC breaks the aforementioned level, its price will be supported at $ 57.

If the support is not interrupted, LTC will move in a movement with an action radius. Meanwhile, the MACD and signal lines 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 a downward trend is under way

Litecoin Price Trend in the short term: Bearish

 Litecoin, LTCUSD, CryptoCompare chart Litecoin Chart of Trading View

In the 4-hour chart, LTC has a downward trend. Its price shows a bear candlestick approaching to break the $ 74 support level. Meanwhile, the Relative Strength Index 14 is level 37 which indicates that the market is oversold, suggesting that the bulls can take over.

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

            
        


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