From today’s Litecoin price analysis, LTCUSD $140 price level is the overhead resistance that remains unbroken. What next can traders expect?
Litecoin Price Technical Analysis
Litecoin (LTC) price was trading in a bullish trend zone yesterday June 19. The 12-day and the 26-day Exponential Moving Averages (EMAs) are pointing northward, which suggests that Litecoin price is in a bullish trend zone. From the price action, the $140 LTC price level is the overhead resistance that remains unbroken. LTC bulls were resisted resulting in Litecoin price falling to a low at $136 level.
Litecoin price dropped to the support of the 12-day EMA which is an indication that the price is likely to rise. Nevertheless, if LTC bulls had a bullish break at the $140 resistance level, Litecoin price will rally at the price of $160. From the Fibonacci tool, the Litecoin price is in the 0.236 and 0.382 Fib. retracement levels. These levels are trend continuation zones for a trending market. If the bulls defend the 0.236 and 0.382 levels, the bullish trend will continue. The Moving Averages Convergence Divergence (MACD) line and the signal line are above the zero line indicating a buy signal.
LTCUSD Price Short-term Analysis
Looking at the 1-hour chart, LTCUSD price is in a bullish trend zone. The moving averages are pointing northward suggesting an uptrend. The LTCUSD price was trending above the 12-day EMA and the 26-day EMA. Yesterday, LTCUSD price was ranging below the $140 price level before resistance to the lower price level.
LTCUSD price is below the EMAs which is an indication that price is likely to fall. If the bears intensify their pressure, LTCUSD price will revisit the previous low $126 price level. Meanwhile, the MACD line and the signal line are below the zero line which suggests a sell signal.
- Resistance Levels: $140, $150, $160
- Support levels: $130, $120, $110
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.