Litecoin (LTC) Daily Price Forecast – November 5

LTC/USD Medium-term Trend: Bullish

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

Last week price of Litecoin was fluctuating below and above the $50 price level. On November 4, the digital currency made a bullish movement to the upper price level of $60. The crypto’s price reached the $54.26 price level and was resisted. Litecoin is now fluctuating above the $54 price level in a range bound movement.

The crypto’s price is above the exponential moving average and as such price is likely to rise. Price is expected to reach the upper price level of $ 60. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the LTC price is in a bullish trend. Price is now above the 12-day EMA and the 26-day EMA indicating that price is in a bullish trend zone. 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.

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