Litecoin (LTC) Long-Term Price Forecast

Fibo Quantum

LTC/USD Long-term Trend: Ranging

Supply Zone: $65, $75, $85
Demand Zone: $60. $55, $45

The LTC/USD pair had been in a bearish trend in the month of August. The cryptocurrency has an opening balance of $77.53. In the bearish trend, the price fell to the low of $51.93 which is about 33% price decrease. The bulls are in control of price and the LTC price is currently trading at $61.14 as at the time of writing.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the price of Litecoin is falling. Nevertheless, the Relative Strength Index period 14 is level 36 which indicates that the market is oversold suggesting bulls to take control of the market.

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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