The Litecoin price prediction may continue to show a bullish movement if the market could rise above the moving averages.
Litecoin Prediction Statistics Data:
- Litecoin price now – $55.2
- Litecoin market cap – $3.9 billion
- Litecoin circulating supply – 71 million
- Litecoin total supply – 84 million
- Litecoin Coinmarketcap ranking – #21
LTC/USD Market
Key Levels:
Resistance levels: $65, $70, $75
Support levels: $45, $40, $35
Your capital is at risk
LTC/USD is showing positive movement since yesterday as the market prepares to cross above the 9-day moving average. Apart from this, the Litecoin price will also need to conquer the 21-day moving average within the channel so that the traders can expect the price to continue to rise as soon as this is done.
Litecoin Moves to the North, Massive gains on Tamadoge
The daily chart shows that the Litecoin price is attempting to create a new positive trend, and traders may expect a bullish continuation towards the upper boundary of the channel which could test the resistance level of $60. Similarly, the technical indicator reveals Relative Strength Index (14) remains below 50-level but crossing above this barrier may locate the potential resistance levels at $65, $70, and $75 in the long term.
Furthermore, if the Litecoin price continues the rising channel pattern, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Litecoin price withdraws back below the 9-day moving average, and this could roll the coin back to the long-term supports at $45, $40, and $35.
Against Bitcoin, the Litecoin price follows the bullish movement as the coin moves to the upside. More so, if the coin crosses above the upper boundary of the channel, the market is likely to keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) moves to cross above the 60-level, which indicates that more bullish signals are going to play out.
In other words, if LTC/BTC falls below the 9-day and 21-day moving averages, it may bring the coin to the nearest support at 2500 SAT, and any further bearish movement could lower the price to the support level of 2400 SAT and below. Nevertheless, if the coin continues to follow a bullish movement and heads to the upside, traders could see a bull run to the resistance level of 3000 SAT and above.
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