Litecoin Price Medium-term Trend: Ranging
Resistance Levels: $90, $91, $92
Support Levels: $87, $86, $85
Yesterday, July 24th, the LTC price is still in a range bound movement. From the daily chart, the price of Litecoin is fluctuating between the levels of $89 and $74. Yesterday, the bulls took price to the high of $89.49 and were resisted by the bears. Unlike the other trending cryptocurrencies, Litecoin price is range bound and most likely to reverse at the resistance zone.
However, If you had taken a short trade yesterday at the resistance level, you would have made partial profits from the LTC price. You still have another chance to take a long trade at the support level when LTC price tests the support level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
Also, the 12-day EMA and the 26-day EMA are neither above nor below the price of Litecoin indicating that price is in a range bound movement.
Litecoin Price Short-term Trend: Ranging
On the 4-hour chart, the price Litecoin is in a range bound movement. Price is retracing to the support zone of the ranging market. The RSI period 14 is level 52 which indicates that price is in the sideways trend zone. The cryptocurrency is likely to continue its range bound movement
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