Litecoin (LTC) Daily Price Forecast – February 7

LTC/USD Medium-term Trend: Bearish

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

Yesterday, February 6, the price of Litecoin was in a bearish trend. On February 6, the bears broke below the EMAs and brought price to the low of $33.18. The LTC price is ranging at the $33 price level . The price of Litecoin is now within the range-bound levels of $30 and $35. The crypto's price is above the 12-day EMA and 26-day EMA which indicates that the LTC price is likely to rise.

On the downside, if the bearish trend continues, the crypto will find support at $30 price level. On the upside, the bulls will have to break the EMAs ,and the price is sustained above the EMAs. The crypto will resume its bullish movement and test the $35 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 bearish trend zone. Yesterday, the bears broke the 12-day EMA , the 26-day EMA and price fell to the low of $33.24. At the low of $33, the bulls commenced a bullish movement which led to the breaking of the EMAs.

The crypto's price is in the bullish trend zone. However, if the crypto's price is sustained above the EMAs , the LTC price will reach the $34 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell 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: 
02/07/2019 - 08:37
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