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Litecoin Price Prediction: LTC/USD Retests $123 Support

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Litecoin Price Prediction
Litecoin Price Prediction

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Litecoin Price Prediction – July 25

The Litecoin price prediction may be looking for support at $120 where the market is likely to provide a rebound.

LTC/USD Market

Key Levels:

Resistance levels: $160, $170, $180

Support levels: $90, $80, $70

Litecoin Price Prediction
LTCUSD – Daily Chart

For the past few days, the daily movement of LTC/USD has been a little bit impressive. However, if Litecoin (LTC) continues the improvement in the last hours of the day, the intraday traders may expect a positive close above the opening price of $126 level. At the time of writing, the technical indicators are seen focusing on the upside, suggesting more bullish movements for the coin.

Litecoin Price Prediction: The Litecoin Price Could Rapidly Move Above $130

As reveals by the daily chart, the Litecoin price may continue to experience an uptrend if it rises above the upper boundary of the channel. Therefore, traders can expect the nearest resistance at $150 and then followed with potential resistance levels at $160, %170, and $180 above the 9-day and 21-day moving averages.

On the downside, if the bears step back into the market, LTC/USD may hit the nearest support at $120 and $110 which is below the 9-day moving average, lower support levels could be located at $90, $80, and $70. However, the signal line of Relative Strength Index (14) is moving around 45-level which reveals that sellers may still come back into market movement as the red-line of the 9-day MA still keeps moving below the 21-day MA.

When compares with Bitcoin, the daily chart reveals that the Litecoin price is sliding below the opening price of 3682 SAT. However, the sellers are seen posing more threat to the nearest support level of 3600 SAT. Meanwhile, any further movement below the 9-day and 21-day moving averages may likely lead to the collapse of the coin.

LTCBTC – Daily Chart

However, as the technical indicator Relative Strength Index (14) nosedives below 35-level, any further bearish continuation could hit the major support at 3300 SAT before falling to 3200 SAT and below. But if the buyers could summon the courage and return the price back above the upper boundary of the channel, LTC/BTC may likely hit the potential resistance at 4200 SAT and above.

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