According to the daily, the Litecoin price prediction shows that LTC is yet to climb to the upside as the price touches the daily low at $100.
LTC/USD Market
Key Levels:
Resistance levels: $120, $130, $140
Support levels: $80, $70, $60
LTC/USD is currently struggling to gather momentum below the 9-day and 21-day moving averages at the moment. Meanwhile, the nearest key level of support remains at $100, but if the coin breakdown with a daily candle closes below the level, it may likely slump towards the lower boundary of the channel.
Litecoin Price Prediction: Litecoin (LTC) Not Ready for The Upside
The Litecoin price is currently facing the downside. However, if the market price crosses into the negative side, it can experience a period of bearish momentum, and it could target the nearest support level at $90 before reaching the support levels of $80, $70, and $60. Meanwhile, for that not to happen, the coin would need to push its movement above the 9-day and 21-day moving averages.
However, if the Litecoin (LTC) breaks above $110, it may likely face a bullish movement with a possible bullish cross above the upper boundary of the channel. Should in case the price decides to maintain the bullish movement, the coin may likely find the potential resistance at $120, $130, and $140 as the technical indicator Relative Strength Index (14) suggests a downward movement.
When compared with Bitcoin, the Litecoin price may follow a bearish sentiment, and it may continue to trade below the 9-day and 21-day moving averages. However, should in case the bulls try to gain momentum, the bears may continue to release a huge pressure on the market as the technical indicator Relative Strength Index (14) remains below the 50-level, to give more bearish signals.
Moreover, if the Litecoin price faces the lower boundary of the channel, it could hit the nearest support at 2500 SAT. Any further negative movement may lower the price to 2300 SAT and below. In case of a rebound, the coin can revisit 2800 SAT above the moving averages before resuming the rally which could see a bull run to the resistance level of 2900 SAT and above.
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