Litecoin (LTC) Price Analysis – August 6


Litecoin (LTC) Price Analysis – August 6


  • The RSI period 14 is level 40 which means that the price is in the range-bound zone.
  • If  the bears break the $74 price level, the LTC price will fall to the lows of either $57 or $52.

Litecoin Chart by Trading View

LTCUSD Medium-term Trend:  Bearish

Resistance Levels: $75, $77, $79                                                                                                                          

Support Levels: $70, $72, $74

The LTC price had been bearish last week but fluctuated between the levels of $91 and $74. On August 4th, the bears broke the support level at $74 but the bulls defended the level and had a pullback. Today, the bearish pressure continues as the bears take control. If the bears succeed in breaking the level and the price falls; the LTC price will find support at either $57 or $52.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars are below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. 

LTCUSD Short-term Trend: Bearish         

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin broke the support level at $74 and the price fell to the low of $72. The bulls took control and brought the price to the high of $74. The bears took over again and made another attempt at the support level of the range-bound zone. Meanwhile, the Relative Strength Index period 14 is level 40 – indicating that the price of Litecoin is in the range-bound zone.


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

Source link

Comments (No)

Leave a Reply

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.