Litecoin (LTC) Daily Price Forecast – November 9

LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70 Support Levels: $50, $48, $46

Yesterday, November 8, the price of Litecoin was in a bearish trend. On November 7, the digital currency had been in a downward trend since the crypto's price was resisted. The crypto's price was resisted because price of Litecoin faced resistance at the $60 price level. A bearish trend line is drawn to determine the continuity of the bearish trend.

A bearish trend is ongoing as long as the bearish trend line is not broken. If price breaks the trend line and the following candlestick closes above it; the bearish trend is said to be terminated. For now, the bearish trend is ongoing. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the digital currency is in a bearish trend. The crypto’s price is below the 12-day EMA and  the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

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

Publication date: 
11/09/2018 - 08:04
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