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Litecoin Price Prediction: LTC/USD Price Breaks Above $200 Level

Litecoin Price Prediction
Litecoin Price Prediction

Litecoin Price Prediction – October 20

The Litecoin price is currently changing hands at $200 as the Relative Strength Index (14) swings above 65-level.

LTC/USD Market

Key Levels:

Resistance levels: $210, $220, $230

Support levels: $170, $160, $150

Litecoin Price Prediction
LTCUSD – Daily Chart

LTC/USD is still keeping the upward movement as its price moves to the north with a gain of over 6.2%. At the time of writing, the Litecoin price breaks above the 9-day and 21-day moving averages and to touch the daily high at $201, and supported the downside at $185, within tight conditions.

Litecoin Price Prediction: Litecoin (LTC) Ready to Gain More

During the European session today, the Litecoin price followed in a slight downward trend after the bullish rally failed to materialize above the $185 level. The coin failed to clear the hurdles towards the resistance level of $190 but a few hours after that, the bulls step back into the market as they keep the coin above the moving averages. More so, a break above the $200 resistance level may provoke a bull-run towards the resistance levels of $210, $220, and $230 respectively.

However, the daily chart reveals that LTC/USD may exhibit the tendencies to move higher as the technical indicator crosses above the 65-level. Nevertheless, if the buyers failed to push the market towards the upper boundary of the channel, the market price may slump below the 9-day and 21-day moving averages to reach the support levels of $170, $160, and $150.

When compares with Bitcoin, the Litecoin price is making an attempt to cross the 9-day moving average in other to reach the resistance at 3000 SAT. Unless this coin crossed above the trend line and the price ends up closing above it, there might not be any reason to expect the bullish reversal.

LTCBTC – Daily Chart

However, any movement below the lower boundary of the channel could refresh lows below the 9-day and 21-day moving averages and a possible bearish continuation may likely meet the major support at 2800 SAT before falling to 2700 SAT and below while the buyers may push the market above the moving averages to hit the resistance at 3200 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) prepares to move out of the oversold region to welcome the bullish movement.

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