Litecoin (LTC) Daily Price Forecast – February 4

LTC/USD Medium-term Trend: Bullish

  • Resistance Levels: $66, $68, $70
  • Support Levels: $30, $28, $26

Last week the price of Litecoin was in a bullish trend as the crypto reached the high of $35.56. The crypto was resisted at the $34 as it fell to the support of the 12-day EMA. Since January 13, the crypto’s price has been fluctuating between the levels of $34 and $36 . Presently, the crypto’s price is above the EMAs, and as a result, the crypto is likely to rise to retests the resistance level.

On the downside, if the price retraces and breaks below the EMAs, the crypto is likely to find support at the $30 price level. Meanwhile, the MACD line and the signal line are above the zero line which a buy signal. Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.

LTC/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Litecoin is in the bullish trend zone. Last week the price Litecoin was in a bullish trend as the crypto was trading above the EMAs. On February 3, the bears broke the EMAs to the bearish trend zone. Today, the crypto is above the EMAs and well supported by the 12-day EMA and the 26-day EMA.

The price may likely rise in the bullish trend zone. Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a sideways signal. Also, the crypto’s price is at par with the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend.

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: 
02/04/2019 - 10:42
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