Litecoin Price Prediction – January 8
The Litecoin price prediction shows that LTC manages to maintain its position as the bulls maintain the desire to defend the support at $130.
Resistance levels: $175, $185, $195
Support levels: $100, $90, $80
After staying below the 9-day and 21-day moving averages, LTC/USD is still undergoing a much-needed break to the negative side posting a slight gain of over 1% in the last 24 hours, with the coin trading towards the 9-day moving average with at a price of $132.73 at the time of writing.
Litecoin Price Prediction: Where will LTC Price Go Next?
The Litecoin price may resume back in the middle of consolidation after touching the low of $125.90 yesterday. The price is now roaming around the $132 level to begin a movement towards the resistance level of $135. Meanwhile, if the market continues with the upward movement, the $150 resistance level is likely to surface again as the coin might further look for higher price levels if the bulls continue to show commitment.
However, the market is currently displaying a sign of subduing volatility with choppy price action. Looking at the daily chart, we can see the trading volume is rising slowly as this may cause the bulls to step back into the market again. On the other hand, if LTC/USD decides to stay under the control of bears, the price may likely cross below the lower boundary of the channel to hit the supports at $100, $90, and $80. But as the Relative Strength Index (14) faces the north, crossing above450-level may the reach the potential resistance levels at $175, $185, and $195 respectively.
Against Bitcoin, the Litecoin (LTC) continues to range-bound as the coin moves within the 9-day and 21-day moving averages. LTC/BTC is likely to fall towards the nearest support level of 3100 SAT as the critical support level is located below the lower boundary of the channel at 2800 SAT and below.
However, any attempt by the bulls to re-power the market, the coin may cross above the 9-day and 21-day moving averages to find the resistance level of 3800 SAT and above. Meanwhile, the coin is currently changing hands to 3169 SAT and a spike in volatility could occur as the Relative Strength Index (14) is seen moving towards 50-level.
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