Home Bitcoin Litecoin (LTC) Price Analysis – September 25

Litecoin (LTC) Price Analysis – September 25

35
0

LTCUSD Medium-term Trend: Ranging

Resistance Levels: $60, $62, $64

Support Levels: $50, $48, $4

The price of Litecoin was in a range bound movement yesterday. The cryptocurrency reached the upper level of price range and was resisted at $63.73. Initially, it fell and became rangebound at a price of $58. Today, the LTC price is currently at $55 and it’s approaching the $50 price level which is the lower level of price range. At the lower level of price range, the LTC price is expected to reverse and commence a bullish movement.

However, if it falls and breaks the $50 price level it will reach the low of $49. Nevertheless, 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 price is in the bearish trend.

LTCUSD Short-term Trend: Ranging

Litecoin Chart by Trading View

On the 4-hour chart, the LTC price is in a bearish trend. The LTC price shows the upper level of price range where price was resisted twice and it is approaching the price at $55. Meanwhile, the Relative Strength Index period 14 is level 35 which indicates that the market is oversold suggesting bulls to take control of the market.

Source: CRYPTOGLOBE 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.