Litecoin (LTC) Daily Price Forecast – August 6

LTC/USD Medium-term Trend: Bullish

Resistance Levels: $75, $76, $77
Support Levels: $70, $69, $68

Last week, the price of Litecoin was in a sideways trend fluctuating between the levels $91 and $74. On August 4th, the LTC price broke the support level at $74. LTC price is out of the range-bound zone. Today, the LTC price has fallen to the low of $72.88 and had commenced a bullish movement. The cryptocurrency is now targeting the previous high of $91.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price bars of Litecoin is below the 12-day EMA and the 26-day EMA which indicate that a bearish trend is ongoing. The relative strength index period 14 is level 47 which indicates that price is in the sideways trend zone.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Litecoin is in a bullish trend. The price bars of Litecoin is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing. The MACD line and the signal line are above the zero line which indicates a buy signal.

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Source: https://bitcoinexchangeguide.com