Litecoin price analysis (LTC) – 7 August

  Litecoin Chart, LTCUSD, CryptoCompare Litecoin Chart for Trading View

LTCUSD Medium-Term Trend:

Strength Levels: $ 75, $ 77, $ 79

Levels of Support: $ 70 , $ 72, $ 74 [19659005] Yesterday, the price of Litecoin was in a bearish trend. However, after the bears broke the support level at $ 74, the price returned to the range range. We are now waiting for a new support level test for $ 74 from bears. From the daily chart, the LTC price has retested support at $ 74, but the bulls have defended and reported the price in the range range area.

Litecoin's pirce risks fluctuating again within the border zone. But if the bears manage to break the support level at $ 74, the LTC price will find support at $ 52 or $ 57. 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 the downward trend is underway.

Short-term trend LTCUSD: Bullish

 Litecoin, LTCUSD, CryptoCompare chart Litecoin Chart of Trading View

In the 4-hour chart, the LTC price broke the support level at $ 74 twice and had a pullback twice. Meanwhile, the relative relative strength index period 14 is level 49 indicating that the price of Litecoin is in the area with a radius of action.

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