Litecoin (LTC) Price Analysis – August 14
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
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.
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