Litecoin Price Analysis – July 9
LTCUSD Medium-term Trend: Ranging
Resistance Levels: $85, $87, $89
Support Levels: $81, $80, $79
Last week, the price of Litecoin was in a range bound trend after the bearish pressure. Last Monday, the price of Litecoin was trading at $79.97 but today the cryptocurrency is still in a range-bound movement at a price of $82.04. Nevertheless, the relative strength index period 14 is level 40 which indicates that the price of Litecoin is in the range bound trend zone.
LTCUSD Short-term Trend: Ranging
On the 4-hour chart, the price of Litecoin is in a range bound zone. The cryptocurrency is fluctuating between the levels of $87.74 and $72.00. Traders should avoid trading in a range bound market if the price of Litecoin is not evenly apart e.g. when the price is horizontally flat.
Meanwhile, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. The price bars of Litecoin are neither above nor below the 12-day EMA and the 26-day EMA which indicates that tbe price is the range-bound trend zone.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.