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Litecoin Price Prediction: LTC/USD Ready To Challenge $185 Level

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Litecoin Price Prediction
Litecoin Price Prediction

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Litecoin Price Prediction – August 14

The Litecoin price begins a sharp price decline of around 0.96% after touching the daily high of $185.11 as it is currently trading at $181.66.

LTC/USD Market

Key Levels:

Resistance levels: $215, $225, $235

Support levels: $150, $140, $130

Litecoin Price Prediction
LTCUSD – Daily Chart

After touching the daily high of $185.11, LTC/USD is now hovering at $181.66 where it is currently trading. However, the loss in the Litecoin price indicates a delayed recovery but the coin has given some great results in the past few days to retain the bullish movement. Therefore, the current market pressure may need to take a while, but once it is lifted, the coin could once again shine.

Litecoin Price Prediction: LTC Price May Create Additional Bullish Move

As the Litecoin price refused to climb above the upper boundary of the channel, if the nearest support of $170 gives way, the sell-off may come to focus and it may be extended towards the support level of $160. At the moment, the bearish scenario may be more dominant if sellers continue to post firm commitment as the technical indicator Relative Strength Index (14) may continue to show a downward trend, which could suggest more selling pressure on the market.

Moreover, we could see a sharp drop below the 9-day and 21-day moving averages. Breaking this barrier could further weaken the market to the support levels of $150, $140, and $130. On the other hand, a higher possible swing may likely retest the previous resistance level above the upper boundary of the channel. Meanwhile, if buyers manage to fuel the market again, traders may expect a further increase to $215, $225, and $235 resistance levels.

Against Bitcoin, the price of Litecoin is making a positive impact as the coin is ready to cross above the upper boundary of the channel but presently, it may continue to fall through the subsequent support level of 3700 SAT while the critical support level is located at the 3500 SAT and below.

LTCBTC – Daily Chart

However, if the bulls manage to power the market, traders may likely find the resistance level at 4200 SAT and above. Moreover, the Litecoin price is currently changing hands at 3822 SAT and a surge in volatility may occur as the technical indicator Relative Strength Index (14) may cross above the 60-level.

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