Litecoin Price Prediction: Long-term (LTC) Value Forecast – June 1
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.
The views and opinions expressed
here do not reflect that of BitcoinExchangeGuide.com and do not constitute
financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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