From today’s Litecoin price analysis, the LTCUSD will be in the downtrend zone, trading at the $100, or $110 support level if the bears break the 0.382 Fib, retracement level.
Litecoin Price Technical Analysis
Yesterday, June 26, Litecoin (LTC) price was declining as the bulls were unable to break the $140 overhead resistance level. They have been unable to break the $140 overhead resistance since June 11. The final attempt was made on June 22, and still, LTC bulls met resistance at the $140 level. The bears have broken below the 12-day and the 26-day Exponential Moving Average (EMAs) which is an indication that there is a possibility of Litecoin price falling continuously.
From the Fibonacci tool, Litecoin price has broken the 0.236 and it is approaching the 0.382 Fib. retracement level. On the downside, if the bears break the 0.382 Fib, retracement level, Litecoin price will be in the downtrend zone, trading at the $100, or $110 support level. The Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line, indicating a buy signal.
LTCUSD Price Short-term Analysis
As the 1-hour chart shows, LTCUSD price is in a bearish trend zone. Between June 25 and 26, LTC bulls were resisted at the $137 resistance zone. Litecoin price dropped to a low at $115 as the bulls pulled back price to the EMAs. The price of Litecoin may further depreciate as the price is below the EMAs. The MACD line and the signal line are below the zero line, thus suggesting a sell signal.
- Resistance Levels: $140, $150, $160
- Support levels: $120, $110, $100
Disclaimer
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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