Litecoin (LTC) Daily Price Forecast – July 16

LTC/USD Medium-term Trend: Bullish

Resistance Levels: $82, $84, $86
Support Levels: $76, $74, $72

Last week, the price of Litecoin was in a bearish  and a sideways trend. The bearish trend commenced from the high of $83.90 to $75.08. Thereafter, the price went into a sideways trend. Today, the cryptocurrency is in a bullish trend. In a bullish market, traders are to buy low and sell high.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price bars of Litecoin are above the 12-day EMA and the 26-day EMA which indicate that the bullish trend is ongoing. The relative strength index period 14 is level 52 which indicates that price 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. The price bars of Litecoin are  above the 12-day EMA and the 26-day EMA indicating that the 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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Source: https://bitcoinexchangeguide.com