Litecoin (LTC/USD) Price Analysis: Drops -0.308%


The MACD line is above the signal line, which is a bullish sign. The 12 day EMA is above the 26 day EMA, which is a bullish sign. Resistance 1: 59.1, Resistance 2: 59.4, Resistance 3: 59.9, Support 1: 58, Support 2: 57.7, Support 3: 57.2.


Litecoin is below yesterday’s pivot point of 58.6. If bears continue to sell off, we could see prices slump as low as 57.2.


Thanks to the buyers, the MACD is above the signal line. Positive momentum to the upside is expected.
The MACD is a common momentum indicator that shows the difference between two expotential moving averages (EMAs). The signals given by the MACD (or any oscillator) should be confirmed by other factors before expecting a reversal or continuation of the trend.


RSI is heading north at 52.4. This signals that buyers could stay in control for awhile longer. However, buyers could face resistance if the RSI reaches the overbought area at 70.


Independent from price, the Average True Range (ATR) is an indicator used for measuring volatility. The indicator can measure the degree of interest or disinterest of price movements by market participants. A bearish support break with an increase in ATR would show strong selling pressure and reinforce the support break.


Future prices can be calculated from today’s pivot points. Prices for tomorrow: high, 58.5, low, 57.8.

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