Litecoin Price Prediction – December 2
According to the daily, the Litecoin price prediction shows that LTC is yet to climb above the $210 level as the price touches the daily low of $200.
Resistance levels: $240, $250, $260
Support levels: $160, $150, $140
LTC/USD is currently struggling to gather momentum above the 9-day moving average at the moment. Meanwhile, the nearest key level of support remains at $200, but if the coin breakdown with a daily candle close below the level, it may likely slump below the lower boundary of the channel.
Litecoin Price Prediction: Litecoin (LTC) Not Ready for the Upside
The Litecoin price is currently trading around the 9-day moving average. However, if the market price crosses below this barrier, it can experience a period of bearish momentum and it could target the nearest support level at $190 before crossing below the lower boundary of the channel to hit the support levels of $160, $150, and $140. Meanwhile, for that not to happen, the coin would need to push its movement above the 9-day and 21-day moving averages.
However, if the Litecoin (LTC) breaks above $210, it may likely face a bullish movement with a possible bullish cross above the 21-day moving average. Should in case the price decides to maintain the bullish movement, the coin may likely find the potential resistance at $240, $250, and $260 as the technical indicator Relative Strength Index (14) suggests a sideways movement.
Against Bitcoin, the Litecoin price is likely to follow a bearish sentiment and it may continue to trade below the 9-day and 21-day moving averages. However, should in case the bulls try to gain momentum, the bears may continue to release a huge pressure on the market as the technical indicator Relative Strength Index (14) ready to cross below 50-level, to give more bearish signals.
Moreover, if the Litecoin price face the lower boundary of the channel, it could hit the nearest support at 3400 SAT. Any further negative movement may lower the price to 3200 SAT and below. In case of a rebound, the coin can revisit the 3800 SAT above the moving averages before resuming the rally which could see a bull-run to the resistance level of 4000 SAT and above.
Looking to buy or trade Litecoin (LTC) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link