Prediction of Litecoin's Price - November 15,

The Litecoin market is in sharp decline, with a loss at 5.34% towards the 9-day moving mean.

LTC/USD Market

Key Levels:

Resistance levels: $305, 315, and $325

Support levels: $230, $220, $210

LTC/USD is currently in a downtrend, as the coin continues to fall towards the moving averages of 9 and 21 days. The resistance level at $281 was not reached by the Litecoin prices. It has been kept from reaching the channel's upper boundary. Buyers may need to maintain a price movement of at least 9 and 21 days above the moving averages in order to avoid a break of the channel. A clear break could lead to the coin reaching the $300 resistance level.

Prediction for Litecoin's Price: Litecoin may cross below the 9-day MA

If the $250 support is lost, the Litecoin price could continue to fall. The sell-off could be triggered and the market may move towards the 21-day MA. The sellers could be more dominant if bears keep their commitment firm, as the Relative Strength Index (14) shows a slight downward trend from the overbought area.

If the market falls further, traders may see a sharp decline below the 9-day or 21-day moving averages. Breaking this barrier could further weaken market and allow it to reach the support levels at $230, $220 and $210. If buyers continue to support the market, traders could expect an additional increase above the upper border of the channel, which could lead to resistance levels at $305, $315 and $325, respectively.

Comparing with BTC, the Litecoin prices are falling below the channel. To reverse the trend, there must be an increase in market volume. The coin is currently trading in the direction of the 9-day and the 21-day moving averages. Traders can expect a close support below that 9-day MA, before reaching the support level at 3800 SAT or below.

Currently, the Litecoin Market has not seen a bullish move, but if this happens, it could validate a crossing above the channel's upper boundary and LTC/BTC might touch the nearest resistance at 4400 SAT. Traders can confirm a bull-run up to the resistance levels at 4500 SAT or higher. The technical indicator Relative Strength Index (14) has left the overbought area, which suggests that there may be more bearish signals.

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By: Azeez Mustapha
Title: Litecoin Price Prediction: LTC/USD Retreats Below $280 Level
Sourced From: insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-retreats-below-280-level
Published Date: Mon, 15 Nov 2021 20:16:41 +0000