Litecoin (LTC) Daily Price Forecast – October 8


LTC/USD Medium-term Trend: Bullish

Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46

Last week, the price of Litecoin had been in a sideways trend. The digital currency had been ranging between the levels of $50 and $65 for about a month. Last week the digital currency was fluctuating between the levels of $59.96 and $57.97. The price of Litecoin had not been able to break the lower and upper levels of price range.

The LTC price will appreciate if the upper level of price range is broken. On the other hand it will depreciate if the lower price level is broken. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the LTC price is in a sideways trend. The price is Litecoin of above the 12-day EMA and the 26-day EMA which indicates that price is rising. The MACD line and the signal line are above the zero line which indicates the buy signal. The Relative Strength Index period 14 is level 60 which indicates that price is in the bullish trend zone.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.





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