LTC/USD Medium-term Trend: Ranging
Resistance Levels: $82, $84, $86
Support Levels: $78, $76, $74
Yesterday, July 30, the price of Litecoin was still in a sideways trend zone. The LTC price made no significant price movement yesterday. However, the price bars of Litecoin are moving in a horizontal pattern in the middle of the chart. This means that the bears and the bulls have no control of market over one another.
Today, the price of Litecoin is likely to continue its sideways trend. Meanwhile, the MACD line and the signal line are below zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that Litecoin price is falling. The Relative Strength Index period 14 is level 30 which indicates that the market is oversold suggesting bulls to take control of the market.
LTC/USD Short-term Trend: Bearish
On 1-hour chart, the price of Litecoin had been in a sideways trend. From the chart, the price of Litecoin is below the 12-day EMA and 26-day EMA which indicates that the price is falling. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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