Litecoin Price Forecast: LTC/USD makes charge towards $50 level – Confluence Detector
|- LTC/USD bulls have taken charge in the early hours of Saturday.
- Daily confluence detector has one healthy support level at $44.20.
LTC/USD daily confluence detector
LTC/USD has gone up by $44.18 to $47.19 in the early hours of Saturday as the bulls took charge. The daily confluence detector shows a lack of strong resistance levels in Litecoin's path back to the $50-zone. On the downside, we have one healthy support level at $44.20, which has the one-day SMA 5, one-day Previous Low, one-week Fibonacci 38.2% retracement level, one-day SMA 100 and 4-hour Previous Low.
If the bulls retain control of the market, they should be able to push LTC/USD above the $50 psychological level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.