LTC Price Prediction – December 13
The Litecoin price is currently changing hands at $82.26. The RSI (14) indicator moves toward the north.
LTC/USD Market
Key Levels:
Resistance levels: $90, $95, $100
Support levels: $70, $65, $60
LTC/USD is currently trading at around $82. Once it manages to surpass the current resistance, the next target is at $84 where it touched a few hours ago. More so, a breach from here may send the price straight to around $85 but if this level fails to hold strong, the price could slip back below the 9-day and 21-day moving averages.
What to Expect from Litecoin (LTC)
Looking at the current market movement, bulls are now gaining back control of the market. Meanwhile, if the bulls can regroup and put more effort, then the market price may likely hit the resistance levels of $90, $95, and $100 respectively. More so, any bullish movement above these key resistance levels should, therefore, encourage further buying.
Nevertheless, a break below the lower boundary of the channel may provoke an even deeper decline towards the $70, $65, and $60 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 60-level which may cause the market to remain stable at the average.
Comparing with Bitcoin, the LTC price is making an attempt to cross the moving averages in other to reach the resistance at 4400 SAT. However, unless this resistance level is effectively exceeded and the market price ends up closing above it, there might not be any reason to expect the long-term bullish reversal.
In other words, trading below the lower boundary of the channel could refresh lows under 4000 SAT and a possible bearish continuation may likely meet the major support at 3800 SAT before falling to 3700 SAT and below while the buyers may push the coin to the potential resistance at 4600 SAT and above as the technical indicator RSI (14) moves toward the north to give more bullish signals.
Credit: Source link
