LTC/USD Long-term Trend: Bearish
- Resistance Levels: $60, $70, $80
- Support levels: $30, $20, $10
The price of Litecoin had been in a bullish trend since December 16, 2018. On January 1, the crypto’s opening price had risen to the high of $30.99. On January 8, the crypto’s price had reached the high of $40 but the bulls could not break the resistance at that level. On January 10, the bears broke the 12-day EMA and the 26-day EMA to the low of $33 price level.
However, from the weekly chart or the daily chart, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. If the bearish pressure continues, the crypto will fall to the low of $30. However, if the bears break this level, then the crypto will find support at the $23 or $28 price level.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The stochastic indicator is out of the oversold region but above the 60% range indicating that the price of Litecoin is in a bullish momentum and a buy 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.
Source: https://bitcoinexchangeguide.com
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14-01-2019, 05:58 PM #1
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Litecoin (LTC) Long Term Price Forecast – January 12
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19-01-2019, 11:58 AM #2
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We don't have to spend the whole doing forex, this could only amount to stress and you getting tired. Well, is not my right to say how you should be trading, but just remember that too much of everything is bad. I am dealing with Bprimes and it all comes down to strategy, so the answer will vary. The hours can vary but anything more than 8-10 hours a day is not healthy. This is I think. And we should not forget it is online business. Not a daily job.
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