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Litecoin (LTC) Daily Price Forecast – October 18
LTC/USD Medium-term Trend: Ranging
Resistance Levels: $66, $68, $70
Support Levels: $46, $44, $42
Yesterday, October 17, the price of Litecoin was in a sideways trend. On October 15, the digital currency had a price rally which made the price to reach the high of $62 but pulled back to the low of $56. Litecoin had been fluctuating below and above the $56 price level. As the crypto's price is consolidating, the key levels of the market are not evenly apart.
Therefore trading is not recommended until when price is out of the range-bound zone.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, LTC price is in a sideways trend. However, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. In addition, the MACD line and the signal line are above the zero line which indicates a buy signal.
The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.
GBPUSD Upside Momentum Halts , Eyes 1.3082 Zone
GBPUSD upside momentum was halted during Wednesday trading session. It now eyes its support located at 1.3082 level. Further down, support comes in at the 1.3050 level where a break will turn focus to the 1.3000 level. Further down, support lies at the 1.2950 level. Below here will set the stage for more decline towards the 1.2900 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Resistance stands at the 1.3150 with a turn above here allowing for more strength towards the 1.3200 level. Further out, resistance stands at the 1.3250 level followed by the 1.3300 level. On the whole, GBPUSD faces downside pressure with more weakness likely.
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