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Litecoin $LTC Forecast: Friday Edition: Bearish Outlook

October 26 2018 18:18 UTC

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This edition features popular Litecoin $LTC price views from @NewsBTC @investingcom & @EtherWorldNews. Or jump right to today’s Litecoin $LTC Forecast.

@NewsBTC

View: bullish

bullish

Dalmas Ngetich of @NewsBTC commits "Price wise, LTCUSD is stable and still ranging/accumulating along $50. Though strong fundamentals are missing to back our bullish outlook and recommendation of short term buys with stops at $50, technical and favorable candlestick formation advises our upbeat forecast."

@investingcom

View: bearish

bearish

Automated Signal of @investingcom propounds "LTC/USD GDAX Technical Analysis > Daily
Summary:Strong Sell
Moving Averages:Strong Sell > Buy (0) Sell (12)
Technical Indicators:Strong Sell > Buy (1) Sell (7)"
Published: October 26 13:54:12 – Real-time Data

@EtherWorldNews

View: bearish

bearish

Aayush Jindal of @EtherWorldNews observes "Litecoin price continues to struggle to break the $53.00 resistance against the US Dollar. LTC/USD is now at a risk of a downside break below the $51.00 support level."

Litecoin $LTC Forecast

on Friday October 26 2018 18:18 UTC

bullishbearishbearish

The crypto pundits say: “bullish/bearish/bearish/”.

Litecoin looks shaky. On the Binance six hour chart today’s 24 hour low of $52.23 breaks the 12 day $52.50 support level. An out of range drop like this suggests there is significantly lessening support for Litecoin.

The four hour MACD (Binance default) is flat lining – not unlike a patient who has temporarily lost their heartbeat. The Relative Strength Index (RSI) is at 43.80 suggesting a slightly undersold value.

The last four days have seen the lowest volume of the quarter.

There appears to be not enough support to sustain the current price, and the critical loss of the longstanding $52.50 support level points to a downward turn.


[legal disclaimer] Just one news report can invalidate a technical analysis.

Disclosure

The author does not hold Litecoin $LTC at the time of writing.

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