LTC/USD Long-term Trend: Bearish
Supply Zones: $90, $100, $110
Demand Zones: $70. $60, $50
Price of Litecoin was not left out in the downward trend . The cryptocurrency fell from the high of $118.90 at the beginning of June, to the low of $74.01 on June 29. The Litecoin price becomes stable above the $80 price level as it fluctuates between the levels of $74.01 and $ 90. If the bears break the support level at $74.01, it will further depreciate and fall to the lows of either $70 of $50.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price bars of the cryptocurrency which indicates that the bearish pressure will continue. Nevertheless, the relative strength index period 14 is level 40 which indicates that the price of Litecoin is in sideways trend zone.
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