Litecoin Price Prediction – December 4
The Litecoin price prediction shows LTC currently dropping with a loss of 13.34% after the opening price at $188.10.
Resistance levels: $200, $210, $220
Support levels: $120, $110, $100
LTC/USD is currently experiencing a 13.34% price drop over the past 24 hours of trading as the coin is now trading below the lower boundary of the channel but looks like it might continue to head beneath the 9-day and 21-day moving averages. However, any further bearish movement below the channel could see the Litecoin price headed towards the $150 level and it is likely to occur if the coin continues to drop in the next few days.
Litecoin Price Prediction: Litecoin (LTC) May Head Beneath
According to the daily chart, the Litecoin price is seen maintaining a downtrend. It has been struggling to stay above the 9-day and 21-day moving averages over the past few days of trading. However, as the pair moves to the downside, the market may be considered bearish at this moment as the technical indicator, the Relative Strength Index (14) is heading towards the oversold region and the sellers can be increasing their momentum if the price stays below the channel.
On the downside, the first support level could be located at $130 but this is expected to prevent the market from falling further. Meanwhile, if the selling continues, traders can expect added support at $120, $110, and $100. Meanwhile, from the upside, the price could manage to move towards the 9day MA and crossing above this could locate the potential resistance levels at $200, $210, and $220.
When compares with BTC, the bears are making a serious effort to step back into the market as the bulls are pushing it back towards the 9-day moving average. At the moment, the coin is yet to show some promising signs that could push the coin towards the upside. From the upside, the nearest resistance levels are located at 4000 SAT and above.
From the downside; the nearest support levels may cross remain below the 9-day and 21-day moving averages while further support could be seen at 3000 SAT. However, if the price drops further, the lower support may be located at 2800 SAT and below. Meanwhile, the technical indicator, the Relative Strength Index (14) is seen moving below 40-level, which shows that more bearish signals are coming to play.
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Original author: Azeez Mustapha
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