Litecoin Price Prediction – January 15
The Litecoin price prediction may continue to settle above the 9-day and 21-day moving averages as the coin heads to the upside.
Resistance levels: $175, $185, $195
Support levels: $115, $105, $95
Looking at the daily chart, LTC/USD continues to trade above the 9-day and 21-day moving averages within the channel. However, the cryptocurrency is now trying to create a higher ground above the resistance level of $150, and should the buyers keep the coin above the moving averages, it may remain at the upside. Today, an early trading session makes the Litecoin price to touch the $150.72 level before rebounding to where it is trading currently at $148.63.
Litecoin Price Prediction: What Could be the Next Direction for Litecoin?
The Litecoin price may stay above the moving averages and if the resistance of $150 gives way, the bull-run may come to focus, and the coin may create additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market price. Therefore, if the coin reaches the resistance level of $170, this could further strengthen the market to $175, $185, and $195 resistance levels.
On the downside, a lower possible swing may likely retest the previous support below the 9-day and 21-day moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $115, $105, and $95 respectively. On the other hand, the technical indicator Relative Strength Index (14) is now moving towards 60-level, indicating that the market may retain the bullish trend.
Comparing with Bitcoin, the Litecoin price remains above the moving averages in other to reach the resistance level of 3500 SAT. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.
On the other hand, if LTC/BTC trades below the 9-day and 21-day moving averages, it could refresh lows under 3100 SAT and a possible bearish continuation may likely meet the major support at 3000 SAT and below but if the coin moves above the upper boundary of the channel, it could hit the potential resistance at 3800 SAT and above. However, the technical indicator Relative Strength Index (14) is moving towards the overbought region to give more bullish signals.
Looking to buy or trade Litecoin (LTC) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider