Litecoin (LTC) Price Analysis – October 19

• The price of Litecoin is in the bearish trend zone both at the short and medium time frame.
• The LTCUSD pair has reached the lower level of the price range.

Litecoin Chart by Trading View

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $63, $65, $67                                                                                                                       

Support Levels: $50, $52, $49   

The LTCUSD pair had been in a range bound movement between the levels of $50 and $ 60. The cryptocurrency had been in a bearish trend in the last three weeks. Today, the crypto's price is fluctuating above $52 price level. This is the major support level of Litecoin. From the MACD indicator, the LTC price is in bearish trend zone as the price is below the exponential moving averages (EMAs).

To come out of the bearish trend the bullish candlestick will have tobreak the trend line and the following candlestick closes above it. The bearish trend can then be said to be terminated. On the other hand, if the price continues to fall, Litecoin will find its low at $51. The Relative Strength Index period 14 is level 42 which indicates that the price is in the sideways trend zone.

LTCUSD Short-term Trend: Bearish     

Litecoin Chart by Trading View                 

On the short term trend, the LTCUSD pair has reached the lower level of the price range. Traders should look out for buy setups to initiate long trades in anticipation of a bullish trend.

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