LTC/USD Medium-term: Bearish

Resistances: $62, $64, $66
Supports: $40, $38, $36

On September 24, the LTC trend was bearish. The digital asset tested the level of $60 as the upper limit of price range with a resistance. LTC had been range bound for a while now between these levels. The digital asset is range bound, so a drop to the level of $50, as the lower limit of this level, is possible. If it recovers with a bullish trend from the support level, buy setups should be sought by traders.
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With regard to the price moving to the upper limit, long trades can be initiated as such. According to the chart, there is a sell signal indicated by the MACD line and the signal line being below zero. Furthermore, Litecoin’s price is under the 12-day EMA and 26-day EMA, suggesting a bearish trend. Still, the price has a sideways trend as indicated by the Relative Strength Index period 14 being level 40.

LTC/USD Short-term: Bearish

According to the 1-hour chart, LTC’s price stands bearish. Litecoin’s price is under the 12-day EMA and 26-day EMA, suggesting a bearish trend. There is a sell signal indicated by the MACD line and the signal line being below zero.