Litecoin Price Prediction: LTC/USD Move Sideways Around $152 Level

Litecoin Price Prediction – September 25

The Litecoin price prediction may soon need to stage a meaningful short-term rally or the cryptocurrency could see a worrying decline back towards the $36 support level.

LTC/USD Market

Key Levels:

Resistance levels: $185, $195, $205

Support levels: $125, $115, $105

LTC/USD is seen moving in an incredibly narrow trading range after a bullish rally failed to materialize. However, the early daily rally towards the $155 level failed to generate sustainable gains, with the LTC/USD pair soon slipping back under the $150 level. The longer that the LTC/USD pair fails to rally from current trading levels, the greater the chance that we may see the cryptocurrency falling to a new monthly trading low.

Litecoin Price Prediction: Litecoin (LTC) May Move Sideways

The longer the Litecoin price fails to rally from current trading levels, the greater the chance that traders may see the coin falling to a new trading low. A break below the $150 support level may provoke an even deeper decline towards the $125, $115, and $105 support levels. The technical indicator Relative Strength Index (14) is moving around 40-level, suggesting sideways movement for the market.

However, the daily chart highlights that LTC/USD bulls need to re-group and energized the market by breaking above the 9-day moving average. However, any further bullish movements above the 21-day moving average could locate the resistance levels of $185, $195, and $205, and a move above these levels may encourage further Litecoin buying.

When compares with BTC, the price of Litecoin is moving in sideways below the 9-day and 21-day moving averages. The Litecoin price is likely to follow the upward movement if the bulls push the coin above the 9-day moving average.

However, as the technical indicator, Relative Strength Index (14) moves below 40-level, keeping the price below the moving averages with a possible break below the lower boundary of the channel, any further bearish movement could lead to the support of 3300 SAT and below, which could establish a new monthly low for the market. Nevertheless, the resistance level could be found at 3900 SAT and above.

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Read more:

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