Litecoin (LTC) Daily Price Forecast – 29 October

LTC / USD medium-term trend: bearish

Strength levels: $ 66, $ 68, $ 70
Support levels: $ 50, $ 49, $ 47

Last week the price of Litecoin was falling. The bearish movement is likely to continue as the price is lower than the moving averages. The price will test the price level of $ 50 because it is the lowest level in the price range. The digital currency is approaching the oversold market condition that suggests bulls take control of the market.

Traders should look for purchase settings if the price falls to the lower level of the price range.
Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal. In addition, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone.

Short-term trend LTC / USD: variable

In the 1 hour chart, the LTC price is in a lateral trend. The price of Litecoin is higher than the 12-day EMA and the 26-day EMA which indicates that the price is in the uptrend zone. Furthermore, the MACD line and the signal line are below the zero line indicating a sales signal.

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