Litecoin Price Prediction – January 9
According to the daily, the Litecoin price prediction shows that LTC is yet to climb above the $150 level as the price touches the daily low of $127.
LTC/USD Market
Key Levels:
Resistance levels: $160, $170, $180
Support levels: $100, $90, $80
LTC/USD is currently struggling to gather momentum above the 9-day and 21-day moving averages now. Meanwhile, the nearest key level of support remains at $120, but if the coin breakdown with a daily candle close below this level, it may likely slump below the lower boundary of the channel.
Litecoin Price Prediction: Litecoin (LTC) Not Ready for the Upside
The Litecoin price is currently trading below the moving averages. However, if the market price crosses below the channel, it can experience a period of bearish momentum and it could target the nearest support level at $110 before touching the support levels at $100, $90, and $80. 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 $150, it could face a bullish movement with a possible bullish move towards 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 $160, $170, and $180 as the technical indicator Relative Strength Index (14) suggests a bullish movement.
Against Bitcoin, the Litecoin price is likely to 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 release a huge pressure on the market as the technical indicator Relative Strength Index (14) moves above 40-level, to keep the coin moving sideways.
Moreover, if the Litecoin price crosses below the lower boundary of the channel, it could hit the nearest support at 2900 SAT. Any further negative movement may lower the price to 2800 SAT and below. In case of a rebound, the coin can revisit the 3200 SAT above the moving averages before resuming the rally which could see a bull-run to the resistance level of 3500 SAT and above.
Looking to buy or trade Litecoin (LTC) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Discussion about this post