Litecoin (LTC) Price Analysis – September 10
LTCUSD Medium-term Trend: Bearish
Resistance Levels: $60, $65, $70
Support Levels: $50, $45, $40
Last week the LTCUSD pair was in a bearish trend. On September 5, the LTCUSD pair reached the high of $68.06 and failed to break the $70 price level. This resistance caused it to fall to the low of $51.78. The bearish trend made the price fall into the previous range bound zone of $60 and $50.
There are indications that price may revisit the next support level of $50. Litecoin price is below the 12-day EMA and 26-day EMA which indicates that a bearish trend is continuing. The MACD line and Signal line are below the zero line which indicates a sell signal.
LTCUSD Short-term Trend: Bearish
On the 4-hour chart, the LTC price is in a bearish trend. The cryptocurrency is falling after its sudden bearish move as the price bars are still below the exponential moving averages. Meanwhile, the Relative Strength Index period 14 is level 40 which indicates that price is in the range bound trend zone.
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