Litecoin / Dollar Cryptocurrency Forecast

Volatile ride for Litecoin / Dollar cryptocurrency price on Monday moving between $75.63 and $90.61
(Updated on Apr 15, 2024)

LTCUSD Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Litecoin / Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $89.60 and $92.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, March 30, 2024, and so far it has fallen -23.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The cryptocurrency had a Golden Star Signal on Sunday, February 25, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.

Support, Risk & Stop-loss for Litecoin / Dollar cryptocurrency

Litecoin / Dollar finds support from accumulated volume at $77.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $14.98 between high and low, or 19.81%. For the last week, the cryptocurrency has had daily average volatility of 11.35%.

Litecoin / Dollar is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $73.53 (-6.54%) (This cryptocurrency has high daily movements and this gives high risk. Low RSI14 is 15 which reduces the risk some. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (LTCUSD) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Litecoin / Dollar to open at $81.64, and during the day (based on 14 day Average True Range), to move between $69.49 and $87.87, which gives a possible trading interval of +/-$9.19 (+/-11.68%) up or down from last closing price. If Litecoin / Dollar takes out the full calculated possible swing range there will be an estimated 23.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $77.30 (1.75%) than the resistance at $81.30 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Litecoin / Dollar cryptocurrency A Buy?

Litecoin / Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.389 Hold/Accumulate Upgraded

Predicted Opening Price for Litecoin / Dollar of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.