What can you expect in this Litecoin price prediction? If LTCUSD price break above the EMAs, the bulls will retest the $62 price level. What is more? Read on!
This past week was positive for Litecoin as the price was in the bullish trend zone against the US dollar. While the LTCUSD pair remained in the bullish zone, it dropped to the bearish trend zone after the bulls faced a strong resistance near the $62.00 and $62.20 levels.
The price made two failed attempts at these levels but would fall to the support of 12-day Exponential Moving Averages (EMA). However, on Saturday, March 30, the resistance made the price to drop to the bearish trend zone.
On the flipside, if LTC price continues to decline, it may drop to its previous low of $58.90. On the upside, if the price bounces back above the EMAs, the bulls will retest the $62 price level.
In the meantime, the Moving Average Convergence Divergence (MACD) line, as well as the signal line, is above the zero lines, indicating a buy signal. Moreover, the Litecoin price is above the EMAs. This indicates that the price is in the bullish trend zone.
Looking at the 1-hour chart, Litecoin price is in the bullish trend zone. The price is likely to rise as it is above 12-day EMA as well as the 26-day EMA. LTC/USD price was resisted after it reached the $62 resistance level and it dropped to the support of the 26-day EMA.
If, however, LTC bulls break the EMAs, the price will retest the $62 resistance level. On the other hand, if the bulls are unable to break above the EMAs, the price will drop. In the meantime, the MACD line and the signal line are above the zero lines, indicating a buy signal. Litecoin price is above the EMAs to indicate that it is in the bullish trend zone.
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