LTCUSD pair struggling to sustain above the daily support level & likely to fall below US$ 102- 105 level. Here is the 06-08 April Litecoin Technical Prediction.
06 April, AtoZForex – The Litecoin or LTCUSD pair is trading near the $115 mark with the 24 hours volume of $ 66M at the time of writing. In the last 1 Week, the price has moved by $ -4.76 (-4.00%) with a total volume of over $ 552.94 Million. The weekly highest price, $ 137.40, was on Tuesday, 03 April 2018 and the weekly low was on Sunday, 01 April 2018. The Litecoin’s fairly market worth is at present remaining at $6.4B with trading volumes are growing as the price goes down. This may signal more bearish push in the coming days.
06-08 April Litecoin Technical Prediction
Fundamentally, the trade war between China and USA, Ban of cryptocurrency ads by Google, Twitter & Facebook, India’s central bank ban of financial firms from dealing with cryptocurrency leads the bearish pull in the crypto-market.
LTCUSD is trading near the near the daily support level near the $114 level. If this support level is broken, the price might tumble below the $105 level. On the upside, LTCUSD needs to surpass the $123.00 resistance level to get a chance to hike towards $130 level, which looks highly improbable.
Moreover, the 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. The price failed to take recovery from 01st April lows and dropped below the 23.6% Fibo retr. zone. Thus, seem bearish in the daily & weekly charts, and the prices might fall towards $100-102 in coming days.
The relative strength index(14) value is below 50 which means Sell in daily timeframe.
The MACD(12,26) value is -18.170 gives selling signal in daily charts.
Moreover, according to ATR(14), the LTCUSD pair is Less volatile.
The Litecoin has significant daily support near $114 and resistance at $123 level.
LTCUSD Daily Pivot Point
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