Long-term (LTC) Value Forecast – May 4

  • The crypto’s price was in a bearish trend after the bulls failed to break the $96 resistance level.
  • On the upside, if the price rises and the trend line remains unbroken, the bullish trend will be ongoing and may retest the previous high of $96.

LTC/USD Long-term Trend: Bullish

  • Resistance Levels: $60, $70, $80
  • Support levels: $50, $40, $30

The LTC/USD pair is in a bullish trend zone in May 2019. However, the crypto’s price was in a bearish trend after the bulls failed to break the $96 resistance level. The bears broke the 12-day EMA and the 26-day EMA to reach the previous low at $70.93. The bulls defended the $70 price level as it commenced a bullish trend that broke the EMAs.

A bullish trend line is drawn to monitor the duration of the current trend. The crypto’s price is expected to rise as it is above the EMAs. On the upside, if the price rises and the trend line remains unbroken, the bullish trend will be ongoing and and may retest the previous high of $96. On the downside, if the bearish candlestick breaks the trend line and another closes on the opposite of it, then the bullish trend is terminated.

The crypto’s price is trading at $82.70 as at the time of writing. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.

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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