Litecoin Price Prediction – LTC/USD Reached $53; Does Not Seem to Be a Good Day for Traders Author: Azeez Mustapha Last Updated: 19 October 2019 LTC Price Prediction – October 19 Despite the downward trend, Litecoin maintains a higher low pattern over a short-term descending channel. LTC/USD Market Key Levels: Resistance levels: $58, $60, $62 Support levels: $48, $46, $44 LTCUSD – Daily Chart Litecoin (LTC) recorded losses in the last two days. The improvement the coin faced yesterday was short-lived and the price is back to around $53. Yesterday, the price peaked at $55 and a low at $52, but currently, it seems to be heading towards the immediate resistance level. Looking at the daily chart, we can see that LTC is still sitting at $53. If the price level can be maintained, we could consider a buyback with $54 resistance before breaking the channel and be above the 21-day moving average to reach the resistance levels of $58, $60 and $62. But as it stands now, the bears are attempting to visit close supports before climbing higher. In addition, the Litecoin is still trading well in a descending channel formation, which shows that the market is undecided. If the price fluctuates below the channel limit, which corresponds to the support at $52, we can expect the LTC market to resume its downward pressure and the price could slip to the critical supports at $48, $46 and $44 respectively. The MACD for Litecoin remains in negative areas, confirming the downward market dynamics. A drive above the zero-level can bring the market back into a green zone. Compared to Bitcoin, the price in Litecoin is slowly changing in the channel and below the 21-day moving average. Despite the rebound, the third best-performing cryptocurrency remains to define a real direction because the shares on prices have remained clouded by bullish prices since the daily opening. LTCBTC – Daily Chart However, as the stochastic RSI moves above level-40, a bullish step back is likely to roll the market back to 0.0071 BTC resistance with a possible break out of the channel and move towards the 0.0073 BTC and 0.0076 BTC resistance levels, establishing a new monthly high for the market. Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
