LTC/USD Medium-term Trend: Ranging
Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46
Yesterday, October 8, the LTCUSD pair was in a bullish trend. The LTC price reached the upper level of price range at a price of $60.15. Presently, the digital currency ranges between the levels of $50 and $60 and as a result, price was resisted. Traders had been advised to exit their trade at the lower or upper levels of price range. If that is done, a short trade should be initiated at the upper level of price range.
A stop-loss order should be placed above the $60 price level in case of price breakout. Meanwhile, the digital currency will continue its range bound movement within the zone. 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 above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, the LTC price is in a bearish trend. The LTC price fell yesterday from the high of $60.15 and it is about commencing another bullish movement to the upper price level. The price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is falling. The Relative Strength Index period 14 is level 53 which indicates that price is in the bullish trend zone.
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