Litecoin (LTC) Price Analysis – July 13
LTCUSD Medium-term Trend: Bearish
Resistance levels: $83, $85, $87
Support levels: $80, $78, $76
Last week the price of Litecoin was in a bearish trend. The cryptocurrency fell from the high of $83.40 to the low of $75.53. There was an assumption last week that if the bears broke the previous low at $74.01, the price of Litecoin would find another support at $59.43.
From the daily chart, 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 bars of Litecoin which indicates that the bearish trend is ongoing.
LTCUSD Short-term Trend: Bullish
On the 4-hour chart, the price of Litecoin has commenced a bullish trend. The price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that the price of Litecoin has risen. The relative strength index period 14 is level 70 which indicates that price is in the bullish trend zone.
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