Litecoin / Dollar Cryptocurrency Forecast

Litecoin / Dollar cryptocurrency downgraded to Sell Candidate
(Updated on Apr 24, 2024)

LTCUSD Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Litecoin / Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $90.64. On a fall, the cryptocurrency will find some support from the short-term average at $82.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Saturday, March 30, 2024, and so far it has fallen -16.69%. 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 $84.64 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 $2.41 between high and low, or 2.87%. For the last week, the cryptocurrency has had daily average volatility of 4.31%.

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 25th

For the upcoming trading day on Thursday, 25th we expect Litecoin / Dollar to open at $85.17, and during the day (based on 14 day Average True Range), to move between $78.33 and $91.97, which gives a possible trading interval of +/-$6.82 (+/-8.01%) up or down from last closing price. If Litecoin / Dollar takes out the full calculated possible swing range there will be an estimated 16.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $84.64 (0.60%) than the resistance at $97.23 (14.19%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.424 Sell Candidate Downgraded

Predicted Opening Price for Litecoin / Dollar of Thursday, April 25, 2024

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