Prediction of Litecoin's Price - December 2

The daily price prediction for Litecoin shows that LTC has yet to rise above $210 as the price touches $200.

LTC/USD Market

Key Levels:

Resistance levels: $240 - $250, $260 -

Support levels: $160, $150, $140

LTC/USD is struggling to gain momentum above the 9 day moving average right now. The nearest support level is still at $200. However, if the daily candle closes below that level, the coin may fall below the channel's lower boundary.

Prediction of Litecoin's Price: Litecoin(LTC) not Ready for the Upside

Currently, the Litecoin price trades around the 9-day moving mean. If the market price drops below this barrier, it may experience bearish momentum. It could then target $190 as its nearest support level before moving below the channel's lower boundary to reach the support levels $160, $150 and $140. To avoid that, the coin must push its movement beyond the 9-day or 21-day moving averages.

If the Litecoin (LTC), breaks above $210 it could face a bullish move with a possible cross above the 21 day moving average. If the price maintains its bullish trend, it may encounter resistance at $240 and $250 respectively. The technical indicator Relative Strength Index (14) indicates a sideways move.

Litecoin's price will likely follow a bearish sentiment against Bitcoin and may trade below the 9-day or 21-day moving averages. The bears could continue to exert pressure on the market if the bulls attempt to gain momentum. To give further bearish signals, the Relative Strength Index (14) technical indicator is ready to cross below 50.

Moreover, Litecoin could reach the closest support at 3400 SAT if it crosses the channel's lower boundary. A further negative move could cause the price to drop below 3200 SAT. If the coin recovers, it can reach the 3800 SAT higher than the moving averages and resume the rally. This could lead to a bull-run up to the resistance of 4000 SAT.

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By: Azeez Mustapha
Title: Litecoin Price Prediction: LTC/USD Price Stays Below $210 Level
Sourced From: insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-price-stays-below-210-level
Published Date: Thu, 02 Dec 2021 20:38:46 +0000