Prediction of Litecoin's Price - December 22

Despite the bearish market action, the Litecoin price prediction is still below the moving averages.

LTC/USD Market

Key Levels:

Resistance levels: $190 - $200 - $210

Support levels: $130, $120, $110

LTC/USD is still at the downside. The coin is following the bearish trend, while cryptocurrency are focusing on the downtrend. Litecoin is trading below its 9-day and 21 day moving averages at the time this article was written. This could indicate that the price might cross the channel's lower boundary.

Prediction for Litecoin's Price: Litecoin (LTC), May Continue to Range-bound

The current trading levels have not allowed the coin to recover. Therefore, traders could see the Litecoin market price drop to a new low. Breaking below the channel's lower boundary could lead to a further decline towards critical support levels at $130, $120 and $110. According to technical analysis, the coin will likely move sideways.

A break above the 9-day moving mean could push Litecoin to $180, while another push could bring it to $190, $200 and $210 resistance levels. The technical indicator Relative Strength Index (14) is currently moving in the same direction. A move into the oversold area could lead to another steep fall.

Litecoin (LTC), when compared with BTC is still in a downtrend, particularly over the last few days. The coin is still below the 9-day, 21-day moving averages. It may continue to fall through any support levels to 3000 SAT. The channel's lower boundary is at 2800 SAT or below. This is the critical support level.

If the bulls can power the market, traders will likely find resistance at 3600 SAT or higher. Litecoin is currently trading at 3170 SAT, but volatility could increase as the Relative Strength Index (14) may rise above the 40-level. This would indicate that a bullish trend might be in play.

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By: Azeez Mustapha
Title: Litecoin Price Prediction: LTC/USD Drops to $153 as Price Heads Downward
Sourced From: insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-drops-to-153-as-price-heads-downward
Published Date: Sun, 12 Dec 2021 13:45:22 +0000