Long-term (LTC) Value Forecast – June 1

Litecoin's Charlie Lee Announces MimbleWimble Could Be Used For LTC Confidential Transactions
  • On the upside, if the 12-day EMA is holding, the crypto’s price is likely to rise to retest or break the $120 resistance level.
  • On the downside, if the bears break below the EMAs or below the $100 price, the crypto’s price will fall to either a low at $70 or $90 price level.

LTC/USD Long-term Trend: Bullish

  • Resistance Levels: $105, $110, $115
  • Support levels: $100, $90, $80

The LTC/USD pair is in the bullish trend zone. On April 3, the LTC market had been trading below the $100 resistance level before it was broken. During the month of April, the LTC market fell to a low at $70 support level. In the month of May, the bulls made an upward move and tested the $100 resistance twice before breaking it.

On May 24, the bulls broke the $100 resistance level to reach a high of $120 price level. The bulls were resisted at the $120 price level and price retraced to the support of the 12-day EMA. On the upside, if the 12-day EMA is holding, the crypto’s price is likely to rise to retest or break the $120 resistance level.

On the downside, if the bears break below the EMAs or below the $100 price, the crypto’s price will fall to either a low at $70 or $90 price level. Meanwhile, the coin has an opening balance of $78 in the month of May 2019. The crypto has a closing price of $114 as at May 31. This indicates that the LTC market appreciated by 46% of its capitalization in the month of May 2019. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

Litecoin’s price is $114.46 LTC/USD exchange rate today. The real-time LTC market cap of $7.1 Billion currently ranks #6 with , daily trading volume of $915.76 Million and live coin value change of LTC 7.60 in the last 24 hours.

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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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