Litecoin Price Prediction – LTC/USD Prepares for $100 Low

Litecoin Price Prediction
Litecoin Price Prediction

Litecoin Price Prediction – July 20

The Litecoin price is approaching the $100 support as bearish signals are still widespread within the market movement.

LTC/USD Market

Key Levels:

Resistance levels: $135, $145, $155

Support levels: $80, $70, $60

Litecoin Price Prediction
LTCUSD – Daily Chart

LTC/USD continues to move bearishly as the coin is tested and printed below the support level of $110. It could touch the nearest support level of $105 while the price remains below the 9-day and 21-day moving averages. Looking at the daily indicator, the Relative Strength Index (14) is seen crossing into the oversold region. Furthermore, $100 will now be the main level of support that needs to be watched.

Litecoin Price Prediction: LTC Price May Target More Lower Levels

The Litecoin price begins today’s trading with a little rise to $115.06 from the opening price of $113.20. Thereafter the bears grabbed the price, dragging it to the 160.25 support level. With this decline, the coin may not be able to maintain its support before showing more signs of a downtrend.

However, the intraday movement of the coin is clearly shown in the market movement, but starting at $100, a rebound could occur. However, if the bulls can hold the market and push the Litecoin price to its upside, LTC/USD may cross the upper boundary of the channel. Once it crosses, expect the asset to revisit the resistance levels of $135, $145, and $155. On the contrary, the continuation of the bearish movement could drag the market towards the lower boundary of the channel, which could meet the supports at $80, $70, and $60 respectively.

Against Bitcoin, the Litecoin price has been trading at the downside for the past few weeks. Not quite long, the coin began a movement below the 9-day and 21-day moving averages. If this movement continues, it may likely hit the support level of 3200 SAT and below.

LTCBTC – Daily Chart

On the contrary, any bullish movement above the 9-day and 21-day MAs could locate the potential resistance level of 4000 SAT and above. Looking at the daily chart, Litecoin price is currently changing hands at 3586 SAT and the coin may continue to move down as the technical indicator Relative Strength index (14) crosses into the oversold condition, suggesting a downward movement.

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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.

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