Daily (LTC) Value Forecast – May 28

Litecoin-LTCs-Soon-Approaching-Block-Reward-Reduction-Could-Mean-Increase-in-LTC-Value
  • Nevertheless, if the bulls break the $120 resistance level, the LTC market will reach the $127 price level.
  • On the other hand, if the price is restricted at the $120 price level, the market will fall to the support of the EMAs or at the $112 price level.

LTC/USD Medium-term Trend: Bullish

  • Resistance Levels: $120, $125, $130
  • upport levels: $110, $105, $100

Yesterday, May 27, the price of Litecoin was in a bullish trend. On May 26, the bulls have already broken the overhead resistance of $104 and the surge in volatility is continuing. The 12-day EMA and the 26-day EMA are pointing northward indicating that the trend is in an upward move. The LTC market has reached the $120 price level and it is currently facing resistance at that level.

The crypto’s price had earlier fallen to the support of the 12-day EMA indicating that price is likely to rise. Nevertheless, if the bulls break the $120 resistance level, the LTC market will reach the $127 price level. On the other hand, if the price is restricted at the $120 price level, the market will fall to the support of the EMAs or at the $112 price level. Meanwhile, the MACD line and the signal line are above the 6.0 level which indicates a buy signal.

LTC/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Litecoin is in a bullish trend. The crypto’s price was making a series of higher highs and higher lows before the pattern was changed to a range bound move. The LTC market is facing resistance at the $117 price level which is why the market was range bound.

The bullish and the bearish candlesticks are trending above the EMAs because of the resistance at the $117 price level. The crypto’s price is expected to rise as soon as the bulls break the resistance level. The MACD line and the signal line are above the 2.0 line which indicates a buy 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.

Crypto Destroyer

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.