It’s not long since the virtual currency values started to alter the trend from bearish to bullish in the market. It is noticeable that the bullish uptrend lead by Bitcoin on the 2nd of April. In spite of this new change of bullish force, yet the question still stays in virtual currency space.
The main cause for this is that the bullish force hasn’t been continuous. The Litecoin’s value and the different altcoins have been going through ups and downs. Tom Lee, who works as the co-founder and head of research Fundstrat has chosen to put some light on this issue.
As per to him the decrease in the association between the BTC and altcoins shows that the “alt season or bull run has begun already. Lee thinks that the new signal of bullish movement will thrust the value of the overall virtual currency market by 1,100% in coming months or years. Lee reached at this by the percentage of increase averaging and assembly registered by altcoins in the most last cryptocurrency’s bull move.
The Litecoin (LTC) Price – LTC/USD is $72.54 and the 24-hour percentage is decreased by -7.16%. Nonetheless, as per the calculations made by Lee if the right things are in the location, the people should hope a better virtual currency bull move.
Litecoin Price Prediction
The value of Litecoin should make into Bullish movement if it smashes the 12 and 26 days EMAs. If the bull smashes overhead the 12 days EMA and the 26 days EMA, the virtual currency’s value will make into the bullish movement area to reexamine the last increases of $82, 92 and $96 resistance stages.
The value of Litecoin is bearish in the mid-period yesterday. The LTC price was showing succeeding its dive to $75.95. The value of Litecoin ranged and examined the 12-day EMA. The bulls will try another chance at going overhead the 12 days EMA. The price of the Litecoin is trending at $78.6 as per to the data provided by CoinMarketCap.
Should the bull smashes the 12 and the 26-days EMA, the value of LTC will be in bullish movement and reexamine at $82, 92 and $96. If the bulls don’t smash overhead paired EMAs, the value of Litecoin will stay in its range-restricted model. The MACD and the indicator line are below the zero patterns showing a sell signal. If the value of Litecoin is under the pairs EMAs then it will be bearish.
Litecoin Value Forecast
At the 1-hour chart of the LTC/USD combination, the value of Litecoin can be seen in a bearish move. The value of Litecoin is changing just under and overhead the 12 and 26-day EMAs. The paired EMAs are in horizontal section showing that the value of Litecoin is going sideways.
Nonetheless, should the bulls could make it in smashing overhead paired EMAs and the value of Litecoin is continued above the pair of EMAs, the LTC’s value will increase up to $82 which is a high level. The MACD and indicator lines are under the zero pattern showing a sell indicator. That’s why the value of LTC is under the pair of EMAs and in the bearish move.