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Litecoin Price Prediction: LTCUSD Now Hovers Between $140 and $120 Trading Zones

Litecoin (LTC) Price Prediction – January 1
LTC/USD trades have now appeared to form a series of price convergences around the values of $140 and $120 in the last couple of days. The $120 point looks like acting as a determining-line where a fall could stage a come-back into the crypto-market.

LT/USD Market
Key Levels:
Resistance Levels: $160, $180, $200
Support Levels: $80, $60, $40

LTC/USD – Daily Chart
Without doubtful though, as regards the LTC/USD price-worth, the market still shows that bulls have not succumbed to many bearish forces. The space between the two SMA trading indicators is relatively wide, with the 14-day SMA pushing closer to the hovering price point at $120. That signifies a price-trend that the crypto-trade may run soon afterward.

Where is LTC Price Going Next?
Trading indicators are now suggesting that the market is in a kind of consolidation movement, considering the pace at which the candlesticks now form in the recent trading sessions. However, the $120 line will play a crucial role in deciding where the next direction follows. But, at that price level, a sudden spike could be a sign of bullish trend continuation.
Meanwhile, in the event of a prolong slow-movement, it is expected that there will be range-trading moves around the value of $120, which will serve as a mid-point between $140 and $100 price levels.

LTCBTC Price Analysis
The LTC/USD trade and the LTC/BTC market in comparison, the latter has a wider-space of bullish trend-lines, for a fall of price to mostly locate support around its lower bullish trend-line before making a rebound. Besides, the crypto-pair is expected to reach higher-points as against the last previous highs found between 0.0050 and 0.0052 levels.

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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.