Litecoin (LTC) Price Analysis – August 14

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Litecoin (LTC) Price Analysis – August 14

litecoin-ltc-price-analysis-august-14

  • The LTC price will find support at $50 as the downward trend continued.
  • The RSI period 14 is level 35 which indicates that the market is oversold suggesting bulls to take control of the market.

Litecoin Chart by Trading View

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $55, $56, $57                                                                                                                          

Support Levels: $50, $49, $48

Yesterday, August 13th, the LTC price was in a downward trend. The cryptocurrency fell to the low of $56 yesterday. Today the LTC price is on a downward trend approaching the price at $53. However, the LTC price will likely find support at $50 as the downward trend continued. Meanwhile, 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: Bearish  

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View
            

On the 4-hour chart, the LTC price is on a bearish trend. The price is making a series of lower highs and lower lows. The price fell to the low at $51 but made a partial bullish movement. 

Meanwhile, the Relative Strength Index period 14 is level 35 which indicates that the market is oversold suggesting bulls might take control of the market.

 

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



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