Litecoin (LTC) Daily Price Forecast – December 6

Fibo Quantum

LTC/USD Medium-term Trend: Bearish

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

Yesterday, December 5, the price of Litecoin was in a bearish trend. Yesterday, the bearish trend came after the resistance by 12-day EMA. The crypto’s price fell to the low of $29.58 and commenced a range bound movement. Presently, the digital currency ranges between the levels of $28 and $36 and price have reached the lower level of price range.

If the price reaches a low of $ 28, it is expected to range back to the upper price level of $36. However, if the bears decide to break the $28 price level or the lower price range, then Litecoin will depreciate further. 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: Bearish

On the 1-hour chart, the crypto’s price is in a bearish trend. On December 5, the digital currency fell to the low of $29.26 and commenced a range bound movement. On December 6, the crypto’s price fall is ongoing. The crypto’s price is still below the EMAs which will result in the fall of the digital currency.

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