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Litecoin Price Prediction: LTC/USD Takes a Moderate Plunge; Deals at $44

LTC Price Prediction – July 24

The Litecoin price is moving downward after falling from its upward movement.

LTC/USD Market

Key Levels:

Resistance levels: $47, $49, $51

Support levels: $43, $41, $39

LTCUSD – Daily Chart

LTC/USD is dealing with the bear attack and the current scenario of the market is giving mixed indications. The movement in the coin isn’t voluptuous and looks like the day would go in a similar way and the coin is slowly slipping towards the immediate support level. More so, the more the coin fails to recover from the current trading levels, the greater the chances that we will see cryptocurrency falling to a new multi-month trading low.

Nevertheless, the crypto is currently trading at $44.85 after losing 0.29% of its value. The RSI (14) is heading towards the south, which shows that an immense bearish pressure may likely weigh on the support below the 9-day and 21-day moving averages; the market could witness further declines at support levels of $43, $41, and $39

Looking at the daily chart, we can see that LTC/USD is still sitting at $44. If the price level can be maintained, we could see a buyback with $45 resistance before getting to the resistance levels of $47, $49, and $51.

Against BTC, since yesterday, the pair has been dropping below the 9-day and 21-day moving averages, breaking the solid support of 4700 SAT. The Litecoin (LTC) price may likely see another sharp drop at 4600 SAT support level. However, a further bearish continuation may likely meet the major support at 4400 SAT before falling to 4300 SAT and 4200 SAT while the buyers may likely push the market back above the moving averages.

LTCBTC – Daily Chart

Meanwhile, any further bullish movement across the upper boundary of the channel may lead to the potential resistance at 4930 SAT and above. The RSI (14) is moving below the 50-level. LTC may continue to drop if the sellers continue to release the pressure.

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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.