Litecoin Price Prediction: LTC/USD Drops to $160 Support ByAzeez MustaphaPRO INVESTOR Updated: 12 August 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Litecoin Price Prediction – August 12 The Litecoin price is dropping with a loss of 3.21% after touching the daily high of $179.79. LTC/USD Market Key Levels: Resistance levels: $200, $210, $220 Support levels: $140, $130, $120 LTCUSD – Daily Chart Buy Litecoin Now LTC/USD experiences a 3.21% price drop over the past 24 hours of trading as the coin is now trading below the upper boundary of the channel but looks like it might be headed beneath the 9-day and 21-day moving averages. However, any further bearish movement below the 9-day moving average could see the Litecoin price headed towards the $160 level and it is likely to occur if the coin continues to drop in the next few days. Litecoin Price Prediction: Litecoin (LTC) May Follow the Downtrend According to the daily chart above, the Litecoin price is seen maintaining a sideways movement. It has been struggling to cross above the upper boundary of the channel over the past few days of trading. However, as the pair moves in this range, the market may be considered neutral at this moment in time as the technical indicator, the Relative Strength Index (14) is moving out of the overbought region and the sellers can be increasing their momentum if it crosses below 60-level, which could certainly result in LTC falling beneath the moving averages. If this occurs, LTC/USD would be considered bearish. On the downside, the first support level could lie at $150 but this is expected to prevent the market from falling further. Meanwhile, if the selling continues, traders can expect added support at $140, $130, and $120. Meanwhile, from the upside, the nearest resistance levels could be located at $170 and $180. Above this, potential resistance lies at $200, $210, and $220. When compares with BTC, the bulls are making a serious effort to step back into the market as the bears are pushing it back below the channel. At the moment, the coin is still trying to show some promising signs that could push the coin towards the upper boundary of the channel. From the upside, the nearest resistance levels are located at 4100 SAT and above. LTCBTC – Daily Chart From the downside; the nearest support levels may cross below the 9-day and 21-day moving averages while further support could be seen at 3500 SAT. However, if the price drops further, the lower support may be located at 3400 SAT and below. Meanwhile, the technical indicator, the Relative Strength Index (14) is seen moving below the 55-level, which shows that more bearish signals are coming to play. Looking to buy or trade Litecoin (LTC) now? Invest at eToro! Buy Litecoin Now 75% of retail investor accounts lose money when trading CFDs with this provider Join Our Telegram channel to stay up to date on breaking news coverage