Litecoin (LTC) Price Analysis – September 10

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Litecoin (LTC) Price Analysis – September 10

litecoin-ltc-price-analysis-september-10-1

Litecoin Chart by Trading View

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   

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

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.

 

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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