Litecoin / Dollar Cryptocurrency Forecast

Red day on Wednesday for Litecoin / Dollar
(Updated on May 01, 2024)

LTCUSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $83.13 and $89.57. 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 -22.94%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. 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 $78.68 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 $6.44 between high and low, or 8.64%. For the last week, the cryptocurrency has had daily average volatility of 6.27%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (LTCUSD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Litecoin / Dollar to open at $78.09, and during the day (based on 14 day Average True Range), to move between $72.70 and $84.82, which gives a possible trading interval of +/-$6.06 (+/-7.70%) up or down from last closing price. If Litecoin / Dollar takes out the full calculated possible swing range there will be an estimated 15.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $78.68 (0.10%) than the resistance at $81.30 (3.22%), 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?

The Litecoin / Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Litecoin / Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.

Current score: -2.063 Sell Candidate Unchanged

Predicted Opening Price for Litecoin / Dollar of Thursday, May 2, 2024

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