Litecoin (LTC) Daily Price Forecast – October 29

LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70
Support Levels: $50, $49, $47

Last week the price of Litecoin had been on a downward trend. The bearish movement is likely to continue as the price is below the moving averages. Price will test the $50 price level because it is the lower level of price range.The digital currency is nearing the oversold condition of the market suggesting bulls to take control of the market.

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

LTC/USD Short-term Trend: Ranging

On the 1-hour chart, LTC price is in a sideways trend. 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. In addition, the MACD line and the signal line are below the zero line which indicates a sell signal.

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