Litecoin (LTC) Daily Price Forecast – June 12
LTC/USD Medium-term Trend: Bearish
Resistance: $108, $109, $110
Support:$106, $105, $104
Yesterday, June 11, price of Litecoin fell to the low of $104.75. Yesterday, the MACD line and the signal line were below the zero line indicating a sell signal. Also, 12-day EMA and 26-day EMA were above the price of the asset indicating that the bearish trend was ongoing. Litecoin is presently trading at $104.84 as at the time of writing.
However, from the chart, the price of Litecoin is one of the most stable cryptocurrency. After the bearish breakout, the asset has not made any price movement. However, today, the MACD line and the signal line are still below the zero line indicating a sell signal for the asset. Whereas, the 12-day EMA and 26-day EMA are above the price of the asset indicating that the bearish trend is ongoing.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, price of Litecoin is in a sideways trend according to price action. Although, the MACD line and the signal line are deep below the zero line indicating a sell signal. In the lower time frame, the exponential moving averages are neither above or below the price bars of the asset indicating a neutral signal.
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