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Monday, June 11, 2018

Litecoin (LTC) Daily Price Forecast – June 11


LTC/USD Medium-term Trend: Ranging

Resistance: $108, $109, $110
Support:$106, $105, $104
Last week, price of Litecoin was also in a ranging market. Price of the asset was fluctuating between the levels of $119 and $123. However, it was suggested that if the asset fell to its previous low at $115, traders should initiate long trades. Litecoin is presently trading at $107.75 as at the time of writing.

However, from the 4-hour chart , the asset has fallen to the low of $104.75 . This was the previous low of the asset, and price has commenced a bullish movement. Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal . Also, 12-day EMA and 26-day EMA are above the price of the asset indicating that the bearish trend is ongoing.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, price of Litecoin is in a bearish trend. Price of the asset has fallen to the low of $102.77 but has commenced a bullish movement. The MACD line and the signal line are deep below the zero line indicating a sell signal. If the bearish pressure continued the support levels would be breached.

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

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