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Litecoin Price Analysis – May 21

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Litecoin, LTCUSD, CryptoCompare chart

LTCUSD Medium-term Trend: Ranging

Resistance: $142, $141, $140                                                                                                                             

Support: $136, $137, $138      

Last week, the price of Litecoin was fluctuating between a resistance level at $150 and a support level at $130. During the week, Litecoin attempted to break the support level at $130, but faced resistance at $129. At other times, the asset attempted to break the resistance level at $150 but faced resistance at $151. At press time Litecoin is trading at $136.1

From the weekly chart, Litecoin did not make any appreciable movement because of the resistance at $140. The asset’s bullish movement was stopped at the $140 resistance. If the price breaks it, Litecoin will reach highs of $150 and $160. On the other hand, the asset will be in a range bound movement if that level holds. Meanwhile, the relative strength index period 14 is level 54, which indicates that the price is in the range bound zone.

LTCUSD Short-term Trend: Ranging

Litecoin, LTCUSD, CryptoCompare chart

On the daily chart, the price of Litecoin made a bullish movement to a high of $140.  Litecoin fell at the resistance level of $140 and made a range bound movement.

 

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