LTC Price Prediction – December 19
The Litecoin price is currently changing hands at $121.95 as the coin maintains the upwards movement.
Resistance levels: $135, $140, $145
Support levels: $95, $90, $85
LTC/USD is seen maintaining a bullish movement according to the daily chart. The coin is now trading near the upper boundary of the channel where the coin gains over 11.40%. LTC/USD bulls broke out after sliding to a $105 low but the price action quickly rebounds as it remains at the upside within tight conditions.
What is the Next Direction for Litecoin?
Looking at the daily chart, Litecoin bulls are now dominating the market. Moreover, if the bulls can put more effort and push the market above the upper boundary of the channel, then the market price could hit the resistance levels of $135, $140, and $145 respectively. In addition, further bullish movement above these resistance levels may encourage further buying.
Meanwhile, a break below the 9-day and 21-day moving averages may provoke an even deeper decline towards the $95, $90, and $85 support levels. Meanwhile, looking at the technical indicator RSI (14), Litecoin may exhibit the tendencies to follow an upward trend as the signal line moves towards the 80-level within the overbought zone which may cause the market to remain stable at the upside.
Against Bitcoin, the LTC price is making an attempt to cross the upper boundary of the channel in other to reach the resistance at 5300 SAT. Therefore, should in case the buyers failed to push the market higher, there might not be any reason to expect the long-term bullish reversal.
However, trading below the moving averages could refresh another low under 4400 SAT and a possible bearish continuation may likely meet the major support at 4300 SAT before falling to 4200 SAT while the buyers may push the coin towards the potential resistance at 5500 SAT and above as the RSI (14) moves toward the north, suggesting more bullish signals.