Prediction of Litecoin's Price - December 19

The Litecoin price prediction shows that there is still a slight bullish movement in Litecoin's (LTC).

LTC/USD Market

Key Levels:

Resistance levels: $185 - $195 - $205

Support levels: $120, $110, $100

LTC/USD is trading below the moving averages of 9 and 21 days. Litecoin is currently at $153.28, after it touched the daily low of $156.71. Litecoin's price fell below $155, despite an earlier trading session that was aimed at the $160 level.

Prediction of Litecoin's Price: Litecoin (LTC), Must Stay Above $150

The daily chart shows that the longer the Litecoin prices fail to rally from current trading levels the more likely it is that the Litecoin value will fall below the 9-day or 21-day moving averages. A break below $155 could trigger the market's current movement and lead to a decline towards $120, $110 and $100 support levels.

The current movement shows that the Litecoin prices could be in an upward trend if the 9 day MA crosses above 21 day MA. The daily chart shows that LTC/USD must break the $160 technical level, which is above the 9 day moving average. This could cause the coin's crossing of the 21-day moving medians, which may lead to resistance levels of $185 and $195 or $205. The technical indicator Relative Strength Indice (14) is expected to cross above 50-level. This indicates that the market could still be moving upwards.

The Litecoin market price is trading at 3266 SAT against Bitcoin. This is because the market price can be seen within the 9-day or 21-day moving averages. The bullish structure might not be in place right now, but the price has been trending sideways since a few weeks ago.

The technical indicator Relative strength Index (14) will likely cross over 50-level. This could provide more bullish signals to the market. The trend's direction is not known until the price breaks above the 21-day MA (or falls below the 9-day MA). If the coin moves to upside and crosses over the moving averages it could reach resistance at 3500 SAT or above, while support is at 2800 SAT or below.

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By: Azeez Mustapha
Title: Litecoin Price Prediction: LTC/USD May Reclaim $160 Level
Sourced From: insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-may-reclaim-160-level
Published Date: Sun, 19 Dec 2021 14:48:55 +0000