Litecoin (LTC) Price Analysis – August 13
LTCUSD Medium-term Trend: Bearish
Resistance Levels: $63, $64, $65
Support Levels: $60, $59, $58
Last week, the LTC price was in a bearish trend falling to the $55.80 low. Today, the cryptocurrency is in a range-bound movement. The overall trend is bearish and if the trend continues, the LTC price may likely fall to the $40.10 low.
Traders should look out for buy setups as the cryptocurrency has reached the oversold condition. However, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing.
LTCUSD Short-term Trend: Bullish
On the 4-hour chart, the LTC price is in a bullish trend. The chart shows that the bears took the price to the $55.80 low and the cryptocurrency made a bullish movement to the $59.23 high. Meanwhile, the Relative Strength Index period 14 is level 41 which indicates that the price is in the range-bound zone.
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