LTC/USD Long-term Trend: Bearish
Resistance Levels: $60, $70, $80
Support levels: $50, $40, $30
The LTC price was bearish all through the month of September 2018. On September 1, the LTC price has an opening balance of $62.07. On September 11, the digital currency fell to its low at $50.72. Since then the digital currency had been range bound between the levels of $50 and $60. Price is expected to fluctuate between those levels. Traders can initiate short orders if the $60 upper level of price range holds.
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 26-day EMA which indicates that the bearish trend is ongoing. Meanwhile, the Relative Strength Index period 14 is level 39 which indicates that the market is oversold suggesting bulls to take control of the market.
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