Litecoin Price Prediction – January 11
The Litecoin price prediction reveals that LTC is moving bullishly with a gain of 5.17%, as the coin is seen approaching the upside.
Resistance levels: $160, $180, $200
Support levels: $100, $80, $60
LTC/USD is seen trading in the green at the time of writing as the coin is trading towards the 9-day and 21-day moving averages with a gain of 5.17%. According to the daily chart, the candle formation is currently respecting the upward movement but crossing below the lower boundary of the channel might position the market price towards the south. Meanwhile, the closest support level is located around the at $125 level while a north wave might see a high movement towards the 21-day moving average.
Litecoin Price Prediction: Litecoin Price May Spike to the Upside
As the daily chart reveals, the Litecoin price is currently moving to above the 9-daymoving average. Meanwhile, an increase above this barrier could trigger intense buying to the resistance levels of $160, $180, and $200. On the contrary, the Litecoin price may likely hold a support level at $125 which is the current daily low. Therefore, if the Litecoin price drops below this support level, it may likely hit the closest support at $120.
Meanwhile, the next support after this could be located below the lower boundary of the channel where it may likely dip to $100, $80, and $60 supports if the selling volume keeps increasing. More so, the technical indicator Relative Strength Index (14) reveals that the market may likely cross above 40-level if the signal line keeps the upward movement.
When compares with Bitcoin, the buyers are trying to step into the market to push the coin above the 9-day and 21-day moving averages. Meanwhile, from the upside, the nearest level of resistance lies at 3400 SAT and above as the technical indicator Relative Strength Index (14) crosses above 40-level.
Therefore, looking at the downside; the nearest level of support is 3000 SAT, if the price drops further to create a new low, lower support could be found at 2700 SAT and below. In addition, the 9-day MA is likely to cross below the 21-day MA, which could mean that the market may remain at the downside.
Looking to buy or trade Litecoin (LTC) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link