Daily (LTC) Value Forecast – March 19

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  • The price of Litecoin is trading at $58.42 as at the time of writing.
  • If the bulls break above the EMAs, the crypto’s price will revisit the previous highs of $60 and $62.
  • On the other hand, if the bulls fail to break above the EMAs the crypto’s price is likely to fall to the low of $54.91

LTC/USD Medium-term Trend: Bearish

  • Resistance Levels: $66, $68, $70
  • Support Levels: $40, $38, $36

Yesterday, March 18, the price of Litecoin was in a bearish trend. Yesterday, the bulls tested the $62 price level and the crypto’s price was resisted. The bears broke the 12-day EMA and the 26-day EMA to fall to a low at $58.70 which resulted in a range bound movement. While in the bearish trend zone the bulls are testing the 12-day EMA to break above it. The price of Litecoin is trading at $59.40 as at the time of writing.

If the bulls break above the EMAs, the crypto’s price will revisit the previous highs of $60 and $62. On the other hand, if the bulls fail to break above the EMAs the crypto’s price is likely to fall to the low of $54.91 . Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is below the EMAs which indicate that price is in the bearish trend zone.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Litecoin is in the bearish trend zone. Yesterday, the bears broke below the EMAs after the bulls were resisted at the $61 price level. The LTC price fell to a low at $58 and it is ranging below the 12-day EMA and the 26-day EMA. The bulls are trying to break above the EMAs.

If the bulls fail to break above the EMAs, the crypto’s price will continue its range bound movement. On the other hand, the crypto’s price will fall since it is in the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The LTC price is below the EMAs which indicate that price is in the bearish 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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