Litecoin Price Prediction: LTC/USD Bulls Take Control as the March towards $65 Begins

LTC Price Prediction – October 9

The Litecoin price is currently changing hands at $59.38. The stochastic RSI indicator moves into the overbought zone.

LTC/USD Market

Key Levels:

Resistance levels: $68, $70, $72

Support levels: $46, $44, $42

LTCUSD – Daily chart

Litecoin price is trading in the green in today’s session, moving around the middle boundary of the Bollinger bands where the coin has gained over 3.10%. LTC/USD bulls broke out from a narrowing range-block formation but the price action is capped to the upside at $59 and supported the downside at $55, within tight conditions.

Furthermore, a few days ago, Litecoin (LTC) price was trapped in an incredibly narrow trading range after the bullish rally has failed to materialize several times. The coin has failed to clear the hurdles towards the resistance level of $60. Instead, the bears are trying to force their way back to the $52 support level.

However, a break below the $50 support level may provoke an even deeper decline towards the $46, $44 and $42 support levels. Looking at the stochastic (RSI), Litecoin may exhibit the tendencies to correct lower after the coin purges from the overbought zone, the indicator is struggling to remain stable at the average.

In other words, any attempt by the bulls to put more effort and push the market towards the upper boundary of Bollinger bands, then it’s likely for the price to hit the resistance levels of $68, $70 and $72 respectively. A move above these key resistance levels should, therefore, encourage further LTC/USD buying.

Meanwhile, when compared with Bitcoin, Litecoin price is making an attempt to cross the symmetric triangle in other to reach the resistance at 0.0073 BTC. Unless this resistance is effectively breached and the price ends up closing above it, there might not be any reason to expect the long-term bullish reversal.

LTCBTC – Daily Chart

However, trading below the triangle support could refresh lows under 0.0067 BTC and a possible bearish continuation may likely meet the major support at 0.0065 BTC before falling to 0.0063 BTC and below while the buyers may push the market to the critical potential resistances at 0.0075 BTC and above. The stochastic RSI may soon be coming out of the overbought zone to start giving bearish signals.

Please note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.