LTC/USD Medium-term Trend: Bearish
• Resistance Levels: $100, $110, $120
• Support levels: $90, $80, $70
Yesterday, July 17, the price of Litecoin was in a bullish trend. On July 16, the downward correction ended at the price of $80 price level. The $80 support level was the previous low of April 11 and May 6. The support level is holding as the bulls made an upward move towards the EMAs.
On the upside, if the bulls break above the 12-day EMA and the 26-day EMA, the crypto’s price will rise and retest the $140 overhead resistance level. However, the bulls are likely to face resistance at the $120 price level.The MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the LTC price is in a bullish trend. The 12-day EMA and the 26-day EMA are trending upward because the price has commenced an upward movement. On July 16, in the downtrend, the bears reached a low of $76 but pulled back above the $80 price level.
Yesterday, the bulls broke above the EMAs and commenced ranging below the $94 price level. Today the bulls have broken the $94 resistance level and are approaching the high of $100.The MACD line and the signal line are above the zero line which indicates a buy signal.
Source: bitcoinexchangeguide.com