LTC/USD Medium-term Trend: Bullish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, November 28, the price of Litecoin was in a bullish trend. The price of Litecoin is now above the 12-day EMA and the 26-day indicating that price is rising.
The digital currency has broken the $35 price level and it is fluctuating at that level. Nevertheless, if the $35 price level holds traders should initiate long trades above that price level.
Also, a stop loss order should be placed below the $35 price level. Meanwhile, the price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto's price is in a bullish trend. The digital currency is making a series of higher highs and higher lows.
Meanwhile, the crypto's price is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
Traders are to ride on the bullish trend as long the uptrend last. They should allow the market to take them out of trading.
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
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29-11-2018, 04:33 PM #1
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Litecoin (LTC) Daily Price Forecast – November 29
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08-12-2018, 07:33 AM #2
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It is also possible to use moving average crossovers, and myriad other methods, but whichever you choose to use, you should ensure that you do not complicate the main aspect of your strategy, which is trend following. My broker Bprimes made my trades simple and fruitful. The best tools for trend following are supplied by moving averages and simple price charts, Bar charts, candlesticks and many others can be equally useful if employed with moving averages.
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