Litecoin (LTC) Daily Price Forecast – September 6

LTC/USD Medium-term Trend: Bearish

Resistance Levels: $60, $70, $80
Support Levels: $50, $40, $30

Yesterday, September 5, the LTC price was in a bullish trend. The cryptocurrency was resisted at a price of $68.58 while attempting to break to $70 price level. But the bears took control of the market and brought the price to the low of $55.66. This implies that the LTC price is now back to the previous range bound zone of Levels $60 and $50.

However, if the bearish pressure continued, the cryptocurrency will revisit the previous low of $50. Also, the MACD line and the signal line are below the zero line which indicates a buy signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 27 which indicates that the market is oversold suggesting bulls to take control of the market.


LTC/USD Short-term: Bearish

On the 1-hour chart, the LTC price is in a bearish trend. The price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. 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 BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.

Source: https://bitcoinexchangeguide.com

Trading will get easier to you over time and never brood over losses because it weakens a trader. Due to the availability of internet, earning knowledge has become quite easier than before. Practical knowledge is the essence of trading that traders should arm with. FXOpulence offers high leverage, smart technology and low spread to traders.

Knowledge and understanding are indeed crucial. By possessing these, trading will proceed in a more guided manner, and you will be more focused on achieving profits with Tickmill broker.