Litecoin (LTC) Daily Price Forecast – August 20

Fibo Quantum

LTC/USD Medium-term Trend: Ranging

Resistance Levels: $59, $60, $61
Support Levels: $54, $53, $52

Last week the price of Litecoin was in a sideways trend. The LTC price was fluctuating between the levels of $56.71 and $62.07. The cryptocurrency fell to its low at $50.49 again and then resumed its range bound movement. Today, the price of Litecoin will continue its price movement within the levels of $60 and $50. If price breaks the previous low at $50, the cryptocurrency will further decline. Also, if price breaks the resistance at $60, the digital

Nevertheless, the MACD line and the signal line are at par with the zero line which indicates a sell signal. Also, the price of Litecoin is at par the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 52 which indicates that price in the sideways trend zone.

LTC/USD Short-term Trend: Ranging

From the 1-hour chart, the LTC price is in a sideways trend. The price of Litecoin is above the exponential moving average indicating price is in a bullish trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

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

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