Litecoin (LTC) Price Analysis – October 12
LTCUSD Medium-term Trend: Bullish
Resistance Levels: $63, $65, $67
Support Levels: $51, $49, $47
Yesterday, the price of Litecoin was in a bearish trend that saw it fall to a low of $51.09. It was suggested that if the cryptocurrency’s price reached its September low, it would likely go back to the upper level of its price range.
Today, Litecoin is making a bullish movement away from its current low. It is assumed that traders have taken closed their positions as the cryptocurrency’s price moves. Litecoin is now expected to face resistance at the $65 level.
LTCUSD Short-term Trend: Bullish
On the short term trend, Litecoin is in a bullish trend. Although, its price is still in a bearish zone below the exponential moving averages (EMAs). Litecoin started its bullish movements to come out of its $51 low. Its Relative Strength Index period 14 is level 42 which indicates the crypto is in a sideways trend.
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