Litecoin (LTC) Daily Price Forecast – February 5

LTC/USD Medium-term Trend: Bullish

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

Yesterday, February 4, the price of Litecoin was in a bullish trend. The crypto’s price reached the high of $34 but the bulls could not break the resistance level. This has been the scenario since January 13. The bulls have also failed to break the resistance level at $34 on January 19, 20, 26 and February 2, 2019. The cryptocurrency is ranging between the levels of $30 and $35.

However, on the upside, if the bulls break the resistance at $34, the crypto will reach the high of $40. On the downside, if price falls and the EMAs are broken, the crypto will find support at the $30 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates 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: Bullish

On the 1-hour chart, the price of Litecoin is in the bullish trend zone. The crypto’s price is fluctuating above the 12-day EMA and the 26-day EMA while in a bullish trend. Yesterday, the price reached the high of $34.67 but was resisted.

The crypto’s price fell to the support at the 26-day EMA where it commenced another bullish movement to test the resistance level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

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: 
02/05/2019 - 10:15
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