LTC/USD Medium-term Trend: Ranging
Resistance Levels: $60, $65, $70
Support Levels: $50, 45, $40
Yesterday, September 19, the price of Litecoin was in a sideways trend. There has been no significant price movement as the digital currency had been range bound between the levels of $50 and $60. On September 19, the LTC price had a price spike. The price went down to the low of $51.56 and was resisted. The same candlestick at the same time went up to the high of $55.04 and also pulled back.
The prices were pulling back as they test the upper and lower levels of price range. Meanwhile, the LTC price will continue its range bound movement. However, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. In addition, the price of Litecoin is neither below nor above the 12-day EMA and the 26-day EMA which indicates that a sideways trend is ongoing. The Relative Strength Index period 14 is level 48 which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, the LTC price is in a sideways trend. 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 sell signal.