The Litecoin price prediction is getting ready to settle above the 9-day and 21-day moving averages as the coin heads to the upside.
Resistance levels: $130, $135, $140
Support levels: $85, $80, $75
LTC/USD is attempting to cross above the 9-day and 21-day moving averages within the channel. However, the cryptocurrency is now trying to create a higher ground above the resistance level of $110, and should the buyers push the coin above the moving averages, it may remain on the upside.
Litecoin Price Prediction: Litecoin (LTC) May Shoot to the Upside
The Litecoin price may cross above the 21-day moving average, if the resistance of $120 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market. Therefore, if the coin reaches the resistance level of $125, this could further strengthen the market to $130, $135, and $140 resistance levels.
On the downside, a lower possible swing may likely retest the previous support if the coin heads toward the lower boundary of the channel. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $85, $80, and $75 respectively. On the other hand, the technical indicator Relative Strength Index (14) is now moving towards the 60-level, indicating that the market may begin the bullish trend.
Compared with Bitcoin, the Litecoin price remains above the moving averages in other to trade above the resistance level of 2700 SAT. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.
On the other hand, if LTC/BTC trades below the 9-day and 21-day moving averages, it could refresh lows under 2600 SAT and a possible bearish continuation may likely meet the major support at 2200 SAT and below. However, if the coin crosses above the upper boundary of the channel, LTCB/BTC could hit the potential resistance at 3300 SAT and above as the technical indicator Relative Strength Index (14) is moving to cross above the 60-level.
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