Litecoin (LTC) Daily Price Forecast – February 8

LTC/USD Medium-term Trend: Bullish

  • Resistance Levels: $66, $68, $70
  • Support Levels: $30, $28, $26

Yesterday, February 7, the price of Litecoin was in a bearish trend. On February 7, the bulls made attempt to break above the EMAs and it is now in the bullish trend zone. The LTC price is ranging at the $33 price level. The price of Litecoin is now within the range-bound levels of $30 and $35.

On the downside, if the downward trend continues, the LTC price will fall and reach a lower price level of $ 30. On the upside, if the bulls break above the EMAs, the LTC price will attempt to reach the upper price level of $35. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is above 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 bulls broke the 12-day EMA, the 26-day EMA and reached a high of $34. However, the crypto’s price faced resistance at the $34 price level and was repelled. The price of Litecoin fell to the bearish trend zone.

Today, the bulls made another bullish movement and break above the EMAs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

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

Crypto Destroyer

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