Litecoin (LTC) Price Analysis – September 25
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
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.