LTC/USD Medium-term Trend: Bullish
Resistance Levels: $78, $80, $82
Support Levels: $74, $72, $70
Yesterday, July 17th, the price of Litecoin was in a bullish and sideways trends. The cryptocurrency fell to the low of $75.08 and commenced a range bound movement on July 10. Today, the bulls have broken the resistance level at $85 and price is expected to rise as shown by the other indicators.
Meanwhile, the MACD line and the signal line are above the zero line which indicate a buy signal. Also, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicate that the bullish trend is ongoing. The relative strength index period 14 is 77 which indicates that the market is overbought suggesting bears to take control of the market.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin is in a bullish trend. The price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing. The MACD line and the signal line are above the zero line which indicates a buy signal.
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