LTC Price Prediction – January 14
LTC/USD manages to maintain its position above the 21-day MA, while the bulls are trying to defend the support at $140.
Resistance levels: $175, $185, $190
Support levels: $125, $120, $115
After being locked below the 9-day and 21-day moving averages on the price charts a few days ago, LTC/USD undergoes a much-needed break to the positive side as the market opens today. The coin is seen posting gains of around 1.9% in the last 24 hours, with the coin trading within the moving averages and at a price of $150.32 at the time of writing.
Where is LTC Price Going Next?
As the daily chart reveals, the Litecoin price resumes back in the middle of consolidation after a slight drop from $186 a few days ago. The price is now roaming around the $150 level. If the market continues the surge and squeeze, the $190 resistance level is likely to surface in the next few positive moves. More so, the LTC/USD pair might further look for higher price levels if the bulls continue to show more commitments.
In addition, the coin is currently displaying a sign of subduing volatility with choppy price action. However, if the Litecoin price decides to stay under the control of bears, the price may roll back to the previous supports at $125, $120, and $115. But on the upside, we can expect the next level of resistance at $175, $185, and $190. Moreover, the technical indicator RSI (14) is moving around the $55-level, which indicates that bullish movement may remain intact within the market.
Against Bitcoin, the Litecoin price is still trading at the downside. Although the coin recently dropped below the 9-day and 21-day moving averages a few days. Since then, LTC/BTC continues to fall towards the 3600 SAT. The critical support level is located below the channel at 3400 SAT and below.
On the other hand, the buyers need to re-power the market and push the coin above the moving averages, any further bullish movement towards the upper boundary of the channel may likely touch the resistance level at 4400 SAT and above. Nevertheless, the Litecoin price is currently hovering below the moving averages as the RSI (14) nosedives below 40-level.