Litecoin (LTC) Daily Price Forecast – November 6

LTC/USD Medium-term Trend: Ranging

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

Yesterday, November 5, the price of Litecoin was in a sideways trend. The crypto was fluctuating above the $53 price level after price was resisted at $54. The price of Litecoin is expected to rise because price is in a bullish trend zone. Traders are to hold on to their long trades as price moves to the upper price range.

Price is expected at the $60 price level because it is the upper level of price range. Traders should exit their trades at the $60 price level if it was resisted. 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: Ranging

On the 1-hour chart, LTC price is in a sideways 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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