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Litecoin Price Prediction: LTC/USD Makes a Breakout Attempt; Price May Cross Above $55

LTC Price Prediction – September 14

LTC/USD may likely set a bullish run if the market can climb back above the $50.

LTC/USD Market

Key Levels:

Resistance levels: $55, $57, $59

Support levels: $42, $40, $38

LTCUSD – Daily Chart

At the moment, LTC/USD is actually running a little retracement move towards $50 with a price growth of 2.39%. Despite today’s gain, Litecoin (LTC) is still maintaining a sideways movement within the channel. We can expect the price to continue to rise as soon as the bulls put more pressure on the market.

What to Expect from Litecoin (LTC)

If LTC/USD breaks below the 9-day moving average this time, the market price may slide back to $45 and $44 support. But if the price keeps respecting the upward movement, traders can then expect a bullish continuation towards the 21-day moving average. Meanwhile, as the technical indicator RSI (14) is seen moving above the 40-level, the possible resistance levels could be found at $55, $57, and $59 in the long-term.

However, if the coin keeps the bullish movement for the next couple of days, traders may witness more of it to reach the higher levels. Meanwhile, LTC/USD still remains bearish in the short-term. Inversely, a bearish extension could roll the coin back to the long-term support at $42, $40, and $38 levels.

Against Bitcoin, LTC continues to follow the sideways movement but trading below the 9-day and 21-day moving averages. In case of a trend reversal, there is a need for an increasing volume and resistance to cause an upsurge in the market.  Now, the coin is trading around the 4573 SAT. We can expect close support at the 4200 SAT and below.

LTCBTC – Daily Chart

However, if a bullish move occurs and validates a break significantly above the 9-day moving average to hit the nearest resistance at 4800 SAT; we can then confirm a bull-run for the pair. More so, the closest resistance lies at 5000 SAT and above as the RSI (14) moves below 40-level.

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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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