Litecoin Price Prediction: LTC/USD Market Witnesses a Significant Downturn Averaging a Low Below $120

Litecoin (LTC) Price Prediction – January 18
There is a significant drop in the valuation of LTC as traded against the US Dollar’s value on January 11 trading sessions.

LT/USD Market
Key Levels:
Resistance Levels: $180, $200, $220
Support Levels: $100, $80, $60

LTC/USD – Daily Chart
A long bearish candlestick emerged on January 11, leading to now seeing the 14-day SMA trend-line getting curved a bit above the present price trading region around the $140 mark. The 50-day SMA trend-line is underneath the smaller SMA indicator with a notable space between them. The Stochastic Oscillators are now seen seemingly attempting to begin a consolidation moving mode near range 40. That said, it shows that the crypto-trade may soon start to witness a line of sideway-price moves around the $140 value in near sessions.

Where is LTC Price Going Next?
As the $140 price line, tends to possibly soon witnessing differential shorter-low and shorter-highs around it. It would be technically ideal for traders to be on the lookout for a decent price formation pattern before considering joining the market again. However, the LTC/USD market may be building-up from a support at $120 line. A violent downward-break could see the market recording other low value between $100 and $80 points.

A resistance price mark at $180 has set up a barrier in the furtherance of any future bullish attempting moves that the crypto-market may witness in no time as of now. In other words, selling entries may potentially come to play while bulls’ driving-forces possess weak momentum. In the meantime, a southward breach of the 50-day SMA trading indicator at $140 will suggest a decent sell-confirmation signal.

LTCBTC Price Analysis
Comparing the trade-worth between LTC and BTC, on January 11, the 50-day SMA trend-line was intercepted from the top by the 14-day SMA to showcase that the base crypto’s value is to some extent under a selling force. As the interception has just come afresh, a rebound rarely looks possible for the base-instrument to stage a come-back in the near time. The Stochastic Oscillators appear to commence a consolidation move around range 20. That suggests that the counter crypto is tightly holding weights in the trading operations.

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    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.