Prediction of Litecoin's Price - November 25,

The daily chart shows that the Litecoin price prediction seems to be maintaining its position, as the bulls want to push the coin higher than the 9-day moving mean.

LTC/USD Market

Key Levels:

Resistance levels: $280. $300. $320

Support levels: $170, $150, $130

LTC/USD is able to take a welcome break from the negative side today, after being below the price charts' 9-day and 21 day moving averages for the past few trading days. The Litecoin price has been posting gains of more than 5.37% in the chart. The coin aims to surpass the 21-day moving mean at $229.82.

Prediction for Litecoin's Price: Litecoin, (LTC), May Bounce Back

After a slight decline below the 9-day or 21-day moving averages, the Litecoin price has resumed its consolidation phase. The Litecoin market price is moving in the direction of the upside. If the market price continues to surge towards the upper channel boundary, then the $250 resistance level will likely be reached in the next few positive movements. The Litecoin prices might also look for higher levels if bulls show more commitment.

The market is showing signs of subduing volatility and choppy price movement. If the Litecoin prices decide to remain under the control bears, they could roll back to their previous supports of $170, $150, or $130 below the lower border of the channel. On the upside, traders should expect resistance levels of $280, $300 and $320. The technical indicator Relative Strength Index (14) has moved above 50-level which suggests that there may be bullish movements.

Comparing to Bitcoin, the Litecoin market price has crossed above the 9-day & 21-day moving mean in order to reach resistance at 4000 SAT. If this resistance is not effectively overcome and the price closes above it, then there may not be any reason for a long-term bullish trend to reverse.

Trading below the moving averages may refresh lows below 3600 SAT, and a bearish continuation could likely meet the critical support level at 3300 SAT or below. Buyers may push the coin up to the resistance level of 4300 SAT, as the technical indicator Relative Strength (14), prepares to cross over 60-level, suggesting that there are more bullish signals.

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By: Azeez Mustapha
Title: Litecoin Price Prediction: LTC/USD Trades Near $230 Resistance
Sourced From: insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-trades-near-230-resistance
Published Date: Thu, 25 Nov 2021 20:48:57 +0000