Litecoin price has resumed the upward trend, if the bulls break above the 12 and 26-day EMAs, the LTCUSD pair will rise and retest the $140 overhead resistance level.
Litecoin Price Technical Analysis
Litecoin (LTC) price was in a bullish trend yesterday, July 17. On July 16, the downward trend was terminated at the price of $80 price level. The $80 support level was the previous low of April 11 and May 6. The support level is holding as the bulls made an upward move towards the Exponential Moving Averages (EMAs).
On the upside, if the bulls break above the 12 and the 26-day EMAs, Litecoin price will rise and retest the $140 overhead resistance level. Nevertheless, LTC bulls are likely to meet resistance at the $120 price level. The Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which is an indication of a sell signal.
LTCUSD Price Short-term Analysis
Looking at the 1-hour chart, LTCUSD price is in a bullish trend. The 12 and 26-day EMAs are trending upward because the price has resumed an upward movement. On July 16, in the downtrend, the bears reached a low of $76 but pulled back above the $80 price level.
On July 17, the bulls broke above the EMAs and started ranging below the $94 price level. Today, July 18, LTC bulls have broken the $94 resistance level and are approaching the high of $100.The MACD line and the signal line are above the zero line, indicating a buy signal.
- Resistance Levels: $100, $110, $120
- Support levels: $90, $80, $70
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
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