Litecoin (LTC) Daily Price Forecast – October 22

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LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70
Support Levels: $50, $52, $49

Last week price of Litecoin was in a bearish trend. The crypto’s price fell to the low of $51 and commenced a bullish movement to the upper price level. The cryptocurrency had been in a range bound movement between the levels of $50 and $60. On October 15, Litecoin had a price rally that made the crypto ‘s price to reach the high of $62 but it pulled back to the low of $56.

The bulls are making another attempt to reach the upper price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, LTC price is in a Bearish trend. The price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. In addition, the MACD line and the signal line are below the zero line which indicates a sell signal.

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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