Litecoin Price Analysis – June 22


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Litecoin Price Analysis – June 22

litecoin-price-analysis-june-22

  • Yesterday, the cryptoasset  traded in a ranging market at a closed price of  $96.28.
  • The price at $85 is the lowest since the beginning of this year

Source: CryptoCompare

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $85, $87, $89

Support Levels: $83, $81, $79

Yesterday, June 22, the LTCUSD pair was in a range bound market. The cryptoasset traded in a ranging market at a closed price of  $96.28. Price of Litecoin has moved away from its range bound levels of $100 and $90. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

Similarly, the 12-day EMA and the 26-day EMA are above the price of Litecoin which indicates that the bearish trend is continuing.The price at $85 is the lowest since the beginning of this year. However, if the cryptoasset depreciates further the demand levels would be breached.

LTCUSD Short-term Trend: Ranging

Litecoin, LTCUSD, CryptoCompare chartSource: CryptoCompare

On the daily chart, price of Litecoin is in a range bound movement. The cryptoasset was ranged bound at the price of $96. Later, price of Litecoin fell to a smooth downtrend  at a price of $84. Meanwhile, the relative strength index period 14 is level 48 which indicates that price of Litecoin is in the range bound zone.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.



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