Litecoin (LTC) Price Analysis – July 20

Litecoin Chart by Trading View

LTCUSD Medium-term Trend:  Bearish

Resistance Levels: $85, $87, $91                                                                                                                           

Support Levels: $83, $82, $879   

Yesterday, July 19th, the price of Litecoin was in a bearish trend.  On July 18, the bulls had taken price to the high of $94 later the bears took control of the Litecoin price and  brought it to the low of $84. With this bearish movement, the price of Litecoin has fallen into the previous range bound movement of $85 and $75 price levels.

However, if the downward trend continued price of Litecoin is likely to visit the previous lows of $78 and $81. Meanwhile, the MACD line and the signal line are below the zero line which indicate a sell signal. Also, the 12-day EMA and the 26-day EMA  are above the price of Litecoin which indicate that the bearish trend is ongoing.

LTCUSD Short-term Trend: Bearish  

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin is in a bearish trend.  The cryptocurrency after breaking the bullish trend line went into a bearish trend. Price of Litecoin is approaching the low of $81. Meanwhile, the relative strength index period 14 is level 48  which indicates that price is in the range bound zone.

           

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

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