Litecoin Price Prediction: LTC/USD Price Stalls at $135 Resistance

Litecoin Price Prediction
Litecoin Price Prediction

Litecoin Price Prediction – July 11

The Litecoin price prediction reveals that LTC failed to climb above the $140 level as the price touches the low of $132.

LTC/USD Market

Key Levels:

Resistance levels: $175, $185, $195

Support levels: $95, $85, $75

Litecoin Price Prediction
LTCUSD – Daily Chart

LTC/USD once again retests $135 again as the coin prepares for another aggressive push lower. The Litecoin price is currently struggling to cross above the $135 level. Meanwhile, a key level of support remains at $130, but if that breaks with a daily candle close below the level, it may likely slump towards the lower boundary of the channel.

Litecoin Price Prediction: LTC Price May Target $120 Support

The Litecoin price is currently trading around the 9-day and w1-day moving averages. However, if the market price crosses above the upper boundary of the channel, it can enjoy a period of bullish momentum and it could target the $165 resistance level before reaching the resistance levels of $175, $185, and $195.

Moreover, if the coin suffers a breakdown in price below $130, Litecoin may likely suffer a worse fate as it would confirm a downtrend with lower highs and lower lows. Should in case the price decides to stay below the 9-day and 21-day moving averages; the coin may likely find the critical supports at $95, $85, and $75 while the Relative Strength Index (14) is in a range.

Against Bitcoin, the Litecoin market is currently moving sideways within the descending channel. Meanwhile, if the bulls attempt to gain momentum, bears may likely release a huge pressure on the market as the technical indicator Relative Strength Index (14) is in a range above 40-level.

LTCUSD – Daily Chart

However, if LTC/BTC moves toward the lower boundary of the channel, it may likely hit the nearest support at 3700 SAT. Therefore, any further bearish movement could lower the current price to 3500 SAT and below. However, the Litecoin price may test the 4200 SAT and if the bulls manage to stay well above this barrier, traders could see a bull-run to the resistance level of 4500 SAT and above.

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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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