LTC/USD Medium-term Trend: Ranging
Resistance Levels: $480, $490, $500
Support Levels: $460, $450, $440
Yesterday, July 9, the price of Litecoin was in a sideways trend. Today, the Litecoin price is still in a sideways trend. The cryptocurrencies are all retracing from their previous positions. The price of Litecoin is retracing from the high of $83 and currently at $76. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal.
In addition, the 12-day EMA and the 26-day EMA are above the price bars of Litecoin which indicates that the bearish trend is ongoing. The relative strength index period 14 is level 32 which indicates that the market is oversold suggesting bulls to control of the market.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Ethereum is in a bearish trend. The Ethereum price retraced from the high of $490.58 to the low of $450. 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 above the price of bars of Litecoin indicating that the bearish trend is ongoing.
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