Litecoin (LTC) Daily Price Forecast – December 4

Fibo Quantum

LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21

Yesterday, December 3, the price of Litecoin was in a bearish trend. The digital currency was in the bullish trend zone when the crypto’s price broke the 12-day EMA , the 26-day EMA and resumed its downward trend. If the downward trend continued, the digital currency will find support at $28 price level.

On the other hand, if the bulls are in control of price, the digital currency will face resistance at the price of $34. Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

LTC/USD Short-term Trend: Ranging

On the 1-hour chart, the crypto’s price is in a sideways trend. The crypto’s price fell the low of $30 and price is fluctuating above the $30 price level. The crypto’s price is testing the 12-day EMA; if the crypto’s price is resisted, Litecoin will continue its downward trend. On the other hand, if the crypto’s price breaks the EMAs, the digital currency is likely to rise.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.