Litecoin Price Prediction: LTC/USD May Cross Above $175 Level

Litecoin Price Prediction – October 3

The Litecoin price prediction reveals that LTC records a gain of 1.06%, as the coin is seen approaching the $175 level

LTC/USD Market

Key Levels:

Resistance levels: $190, $200, $220

Support levels: $150, $130, $110

LTC/USD is seen trading in the green at the time of writing as the coin is trading above the 9-day and 21-day moving averages with a gain of 1.06%. According to the daily chart, the candle formations are currently respecting upward movement and crossing below the moving averages might position the market price in a decline. Meanwhile, the closest support level is located around the 9-day moving average at $155 level while a north wave might see a high movement towards the upper boundary of the channel.

Litecoin Price Prediction: Litecoin Price May Spike Within The Channel

As the daily chart reveals, the Litecoin price is retreating from the daily high of $171. Meanwhile, an increase above this level could trigger intense buying to $190, $200, and $220 resistance levels. On the contrary, the Litecoin price may likely hold a support level at $165 which is the current daily low. Therefore, if the Litecoin price drops below this support level, it may likely hit the closest support at $160.

Meanwhile, the next support after this is located below the 9-day MA where it may even dip to $150, $130, and $110 supports if the selling volume keeps increasing. More so, the technical indicator Relative Strength Index (14) reveals that the market may likely cross above 55-level if the signal line keeps the upward movement.

When compares with Bitcoin, the buyers are making an attempt to step into the market while the bulls are trying to keep the coin above the 9-day moving average. Meanwhile, from the upside, the nearest level of resistance lies at 3800 SAT and above as the technical indicator Relative Strength Index (14) stays above 40-level.

Therefore, looking at the downside; the nearest level of support is 3400 SAT, if the price drops further to create a new low, lower support could be found at 3300 SAT and below. In addition, the 9-day MA is still below the 21-day MA, which could mean that the market may remain at the downside.

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