LTC/USD
Medium-term Trend: Bullish
Resistance Levels: $85, $86,
$87
Support Levels:$83, $82, $81
Yesterday, July 4, price of
Litecoin was in a bullish trend. I suggested the use of trend line as a means
of determining the support levels of price in a bullish market to initiate long
trades. Trend lines can also be used to determine the end of a trend. Nevertheless,
as the bearish candlestick retraces to test the trend line; the bullish
candlestick moves higher highs to reach other price levels.
However, the MACD line and
the signal line are above the zero line which indicates a buy signal. Also, the
price bars of Litecoin is above the 12-day EMA and the 26-day EMA which
indicates that the bullish trend is continuing. Nevertheless, the relative
strength index period 14 is level 54 which indicates that price of Litecoin is
in the sideways trend zone.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the
price of Litecoin is in a bullish trend. In the short term trend, the MACD line
and the signal line are above the zero line which indicates a buy signal. The
price of the cryptoasset is rising as the price bars of Litecoin is above the
12-day EMA and the 26-day EMA.
The views and opinions
expressed here do not reflect that of BitcoinExhangeGuide.com and do not
constitute financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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