Litecoin Price Prediction for June 1, 2016

Jun 1, 2016 --- (ARCHIVED) Free Reports

Market Commentary: 

Due to popular demand on the Slack team, we are beginning coverage on LTC/USD once again for the first time in almost two years. While we are not reverting back to full time coverage at this point, we will continue to keep up with it and post updates as necessary.  

Given we have not looked at this market in quite some time, we wanted to start with a rather broad view of things via a longer term chart. We chose the 3-day chart below due to the fact that the daily chart is a bit too cluttered with short term noise and the weekly is hard to read due to so many months of suppression.  With all of that said, let's get to it.

We can see below that the recent bullishness is warranted given the large rounded base that has been put in since last summer.  Now price has finally broken sustainably through the key 4.00 $ mark which has created new SCMR dynamic support around there.  We can also see that the shorter term trendline continues to hold with support now sitting around the EMA's at 3.95 $, while the longer term trendline remains far below current levels at 3.30 $...

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