Litecoin (LTC) Price Analysis – September 24
LTCUSD Medium-term Trend: Ranging
Resistance Levels: $60, $62, $64.
Support Levels: $56, $54, $52
Last week the price of Litecoin had been range bound between the levels of $50 and $60. On September 18, the cryptocurrency commenced a bullish movement at a price of $51.14 which reached the high of $61.80. This was resisted at the upper level of price range.
The MACD line and the signal line are at par with the zero line which indicates a neutral signal. Also, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.
LTCUSD Short-term Trend: Ranging
On the 4-hour chart, the LTC price is in a sideways trend. The LTC price shows the upper level of price range where price was resisted twice and it is approaching the price at $58. Meanwhile, the Relative Strength Index period 14 is level 48 which indicates that price is in the sideways trend zone.
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