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Litecoin Price Prediction: LTC/USD Spikes Upward out of Short-Lived Range Trading Regions

Litecoin (LTC) Price Prediction – January 3
The market valuation of Litecoin as against the price-worth of the US Dollar has seemingly set a new pace to seeing more increases as it has sprung northward to trade around a high value of $160.

LT/USD Market
Key Levels:
Resistance Levels: $180, $200, $220
Support Levels: $120, $100, $80

LTC/USD – Daily Chart
The LTC/USD daily trading chart now depicts the formation-pattern of price action, when the crypto began its northward movement from a low value below $80 on Dec12 up until the formation of a bullish candlestick that occurred at $120 point yesterday in the crypto-market. In the view of that successful movement by the crypto, it signifies that bulls may further prolong their moves to seeing other higher-trading levels

Where is LTC Price Going Next?
Technical tools show that there are yet more potentials of seeing the LTC/USD bulls gaining the advantage of the trade in the next session. Meanwhile, the base instrument may, in a slow-moving manner, push northward the more. Trade levels around $160 and $180 tend to witness less active price action purposely for the market to decide the direction.

On the downside, yet not clear to suggest a start of the fall of this market. The reason is that buying pressures have not exhausted. In that case, Seller should exercise some degree of patience before placing an entry-position in the LTC/USD trade as there hasn’t any signal that warrants their coming-backThe price may shoot up past its present trading zone around the $160 mark.

LTCBTC Price Analysis
In the comparison, LTC now appears getting set on a strong note to regain its strength lost to the BTC that counters down a low value over a trading time. In a usually manner, the base seems to have found support between $0.0040 and $0.0042 level as it begins to move north-worth in a retracement mote. The Stochastic Oscillators have slightly crossed at range 20. That signifies the possibility of the base trading instrument on its recovery note.

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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.

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