The Litecoin price prediction sees a 1.74% price increase over the past 24 hours of trading as the cryptocurrency touches a $112 high.
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Resistance levels: $140, $150, $160
Support levels: $80, $70, $60
LTC/USD gains a 1.74% price rise over the past 24 hours of trading as the cryptocurrency bounces from $107.79 to $112.18 resistance level. The Litecoin may face the upside as the red-line of the 9-day MA may cross above the green-line of the 21-day MA. At the time of writing, the movement is shifting back into the bullish favor, with the technical indicator Relative Strength Index (14) moving above 50-level.
Litecoin Price Prediction: Litecoin (LTC) Ready for a Spike
The Litecoin price may need to rise above $120 if the buyers keep the price above the 9-day and 21-day moving averages. On the contrary, traders may consider the market as bearish if the sellers bring the market movement to the lower side.
However, at the upside, the first level of resistance could be found at $125, while the potential resistance levels lie at $140, $150, and $160. Moreover, if the sellers push the price towards the lower boundary of the channel, traders may expect supports to be located at $80, 70, and $60 while the technical indicator Relative Strength Index (14) faces the north to give more bullish signals.
Compared with Bitcoin, LTC is likely to cross below the 9-day and 21-day moving averages as the coin heads to the south. The Litecoin price heads to the south as the coin prepares to create a new low within the market. From the above, the nearest resistance level could be found at 3000 SAT. Above this, higher resistance is located at 3200 SAT and above.
On the contrary, if the selling pressure creates a fresh low within the market, lower support may come at 2200 SAT and below. However, the technical indicator Relative Strength Index (14) moves below 50-level, which shows that the market may be preparing for a downtrend.
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