LTC/USD Medium-term Trend: Bearish
Resistance Levels: $60, $65, $70
Support Levels: $50, 60, $50
Yesterday, September 25, the LTCUSD pair was in a bearish trend. The bearish trend was as a result of the resistance of September 23. Price tested the upper level of price range which is $60 price level. The digital currency reaches the high of $63.73 and was resisted. Price has reached the low of $54.17 and has bounced back. Today, the LTC price has moved away from the lower level of price range.
Traders can initiate long trades at the lower level of price range and exit your long trade at the upper level. While your stop loss can be placed below the $50 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 45 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 price of Litecoin is making a bullish movement to the upper level of price range after reaching the low of $54. 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 above the zero line which indicates a buy signal.
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