Litecoin / Dollar Cryptocurrency Forecast

Litecoin / Dollar cryptocurrency price up 2.34% on Friday
(Updated on Apr 19, 2024)

LTCUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. 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 $90.61. On a fall, the cryptocurrency will find some support from the short-term average at $78.96. 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 -20.33%. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 $81.30 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 $6.47 between high and low, or 8.54%. For the last week, the cryptocurrency has had daily average volatility of 9.83%.

Litecoin / Dollar is oversold on RSI14 (20). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $77.68 (-4.60%) (This cryptocurrency has high daily movements and this gives high risk. Low RSI14 is 20 which reduces the risk some. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (LTCUSD) For The Upcoming Trading Day Of Saturday 20th

For the upcoming trading day on Saturday, 20th we expect Litecoin / Dollar to open at $79.83, and during the day (based on 14 day Average True Range), to move between $73.17 and $89.69, which gives a possible trading interval of +/-$8.26 (+/-10.14%) up or down from last closing price. If Litecoin / Dollar takes out the full calculated possible swing range there will be an estimated 20.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $81.30 (0.16%) than the resistance at $97.23 (19.40%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.403 Hold/Accumulate Unchanged

Predicted Opening Price for Litecoin / Dollar of Saturday, April 20, 2024

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