Litecoin Price Prediction: LTC/USD Faces Selling Pressure, Would That Continue?

Litecoin (LTC) Price Prediction – December 8

Litecoin fluctuates at the bottom of the chart between the levels of $42 and $50. The pair may face further selling if the low at $42 is breached.

LTC/USD Long-term Trend: Ranging (Daily Chart)

Key Levels:
Resistance Levels: $80, $100, $120
Support Levels: $50, $40, $20

LTCUSD – Daily Chart

There has been no significant price movement as Litecoin fluctuates at the bottom of the chart. Litecoin has crashed to a low of $42 for the past two weeks. Expectations are rife that the coin may rebound. Surprisingly, the price movement has been stagnant as the market continues its consolidation. About a week ago, the coin was trading at $44 but today the market is still trading at $44 as at the time of writing. What happens is that there is an insignificant price movement to a high of $46.

The bulls were resisted at that price level but after a retest at $46, LTC dropped back to the low of $44. Litecoin is on a downward move. Further selling will occur if the bears break the previous low at $42. Litecoin is fluctuating at the bottom of the chart in a tightrange. Meanwhile, the Fibonacci tool has indicated that Litecoin is likely to reverse at the 1.272 extension level.

LTCUSD – 4-hour Chart

LTC/USD Medium- Term: Ranging (4-Hour Chart)
Early in November, the bulls made attempts to breach the resistance at $65. Same as other top cryptocurrencies, there are several ways to buy Litecoin via exchanges .The unsuccessful attempts by the bulls led to the formation of a bearish double top pattern. The coin dropped to a low of $42.50 and commenced a sideways move. The top forex brokers are have advised their customers to invest in lite coin for a good ROI.

The pair moves up again to test the resistance line but it is consolidating above $40 price level. The coin fluctuates between the levels of $42 and $50. Presently, the bears are testing the lower price range. The downtrend may resume if price breaks below the support line. The EMAs are sloping southward as the 12-day EMA is acting as a resistance.

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.