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Litecoin Price Prediction: LTC/USD is Yet to Take A Trading Direction; Trades at $43

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LTC Price Prediction – February 15

Litecoin (LTC) remains in the bullish hands after the recent reversal embraced support at $42.95.

LTC/USD Market

Key Levels:

Resistance levels: $50, $52, $54

Support levels: $38, $36, $34

LTCUSD – Daily Chart

LTC/USD is down with 0.95% as the market opens today amid global correction on the cryptocurrency market. The Litecoin (LTC) is changing hands at $43.79 after touching the high of $44.70 in the early hours of today. The coin may settle below the 9-day and 21-day moving averages at $43, which now serves as an initial support level.

However, if the support of $43 gives way, the sell-off may come to focus and it may be extended below the channel at $42. At the moment, the bearish scenario seems more dominant as sellers continue to post firm commitments. We could see a sharp drop in support of $41 and $40. Breaking the aforementioned supports could further weaken the market to $38, $36 and $34.

On the upside, a higher possible swing may likely retest the previous resistance levels at $46 and $48. However, if the bulls manage to fuel the market with the mentioned resistance levels, traders may expect a further increase to $50, $52 and $54 resistance levels. RSI (14) now nosedives to 50-level, indicating the latest selling pressure on the market.

Compared to Bitcoin, the price of Litecoin is slightly changing within the channel and above the 9-day moving averages. With the recent rebound, the seventh best-performing cryptocurrency has started moving towards the north because the shares on prices have remained clouded by bullish prices since the daily opening.

LTCBTC – Daily Chart

However, as the RSI (14) moves to cross above the 40-level, a bullish step back is likely to roll the market back to 0.0048 BTC with a possible break above the moving averages and move towards the 0.0052 BTC and 0.0054 BTC resistance levels, establishing a new high for the market. In other words, any attempt by the bears to drag the price below the channel could hit the nearest support at 0.0042 BTC and beyond.

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