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
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.
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