LTC/USD Medium-term Trend: Ranging
Resistance Levels: $66, $68, $70
Support Levels: $60, $58, $56
Yesterday, October 1, the LTCUSD pair was fluctuating above the $60 price level. This was as a result of the digital currency falling from its previous high when it faced resistance at the $65 price level. Price of the digital currency will be fluctuating above the $60 price level until we have price breakout. On the other hand, if it breaks the $60 price level it will fall into the previous range bound zone of $50 and $60.
There will be no trade recommendation as the price action is choppy. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend zone. The Relative Strength Index period 14 is level 53 which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the LTC price is in a bullish trend. The cryptocurrency made a bullish movement to the high of $61 from its previous low of $59.96. The price is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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