Home Litecoin Litecoin (LTC) Price Analysis – August 27

Litecoin (LTC) Price Analysis – August 27

4 min read

Litecoin Chart by Trading View

LTCUSD Medium-term Trend: Ranging

Resistance Levels: $60, $70, $80                                                                                                                       

Support Levels: $50, $40, $30                              

The LTCUSD pair is range bound. Last week the price of Litecoin fell to a low of $53.54. Then at that low, the price was fluctuating in a horizontal pattern all throughout the week. Today, the cryptocurrency is still fluctuating in that pattern. Its price is likely going to continue its range bound movement between the levels of $60 and $50.

The horizontal movement is a period of consolidation, and in the event of a breakout the pressure will be very powerful.  A bearish trend will see LTC’s price since to a low of $49.31. On the other hand, a bullish breakout will see its price reach a high of $75.32 . Nevertheless, the MACD and signal lines are below the zero line which indicates a sell signal.

The price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the price is falling

LTCUSD Short-term Trend: Ranging

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, LTC is range bound.  Its price, the 12-day EMA and the 26-day EMA are trending horizontally indicating the cryptocurrency is range bound. Meanwhile, the Relative Strength Index period 14 is level 55 which indicates that its price is in a range bound trend.

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

Let’s block ads! (Why?)

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Litecoin Price Rebounds 14% as Halving Volatility Looms – CCN Markets

Litecoin (LTC) has gained more than 14 percent in 24 hours, surging from a low of $77.60 o…