Litecoin Price Prediction – November 27
According to the daily chart, the Litecoin price prediction may be looking for support at $190 where it is likely to provide a rebound.
Resistance levels: $240, $260, $280
Support levels: $140, $120, $100
For the past few days, the daily movement of LTC/USD has been heading towards the downtrend. Therefore, if the Litecoin (LTC) improves in the last hours of the day, the intraday traders may expect a positive close above the opening price of $195 level. At the moment, the technical indicators are keep focusing on the downside, suggesting more bearish movements for the coin.
Litecoin Price Prediction: Litecoin Price Not Yet to Bounce Back
As reveals by the daily chart, the Litecoin price may continue to experience a downtrend if it falls below the lower boundary of the channel. Therefore, traders can expect additional support at $150 and then may follow with added critical supports at $140, $120, and $100.
On the upside, if the bulls step back into the market, LTC/USD may hit the nearest resistance at $230 above the 9-day and 21-day moving averages, higher resistance could be located at $240, $220, and $200. However, the signal line of Relative Strength Index (14) is moving towards 40-level which reveals that sellers may continue to dominate the market.
Against Bitcoin, the daily chart reveals that LTC is sliding below the opening price of 3643 SAT. However, the sellers are seen posing more threat to the nearest support level of 3500 SAT. Meanwhile, an eventual break towards the lower boundary of the channel may likely lead to the collapse of the coin.
However, as the technical indicator Relative Strength Index (14) nosedives below 50-level, any further bearish could hit the major support at 3200 SAT before falling to 3100 SAT and below. But if the buyers could gather and return the price back above the 9-day and 21-day moving averages, LTC/BTC may likely hit the potential resistance at 4000 SAT and above.
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