Litecoin (LTC) Daily Price Forecast – November 9

LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46

Yesterday, November 8, the price of Litecoin was in a bearish trend. On November 7, the digital currency had been in a downward trend since the crypto’s price was resisted. The crypto’s price was resisted because price of Litecoin faced resistance at the $60 price level. A bearish trend line is drawn to determine the continuity of the bearish trend.

A bearish trend is ongoing as long as the bearish trend line is not broken. If price breaks the trend line and the following candlestick closes above it; the bearish trend is said to be terminated. For now, the bearish trend is ongoing. 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 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the digital currency is in a bearish trend. The crypto’s price is below the 12-day EMA and  the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

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

Be the first to comment

Leave a Reply

Your email address will not be published.


*