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.
The views and opinions expressed
here do not reflect that of BitcoinExchangeGuide.com and do not constitute
financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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