Litecoin Price Prediction – January 24
The Litecoin price prediction shows LTC heading towards the south as the coin may cross below the lower boundary of the channel.
LTC/USD Market
Key Levels:
Resistance levels: $150, $160, $170
Support levels: $65, $55, $45
LTC/USD opens today’s trade with the opening price of $112.28 as the coin is dropping like a stone towards $100 in a matter of hours. However, at the time of writing, the Litecoin price is changing hands at $100.65, seriously down by 10.41% after a rebound from the $97.51 level. Currently, the daily chart reveals that the technical indicator Relative Strength Index (14) is crossing into the oversold region, which means the coin could be ready for more losses.
Litecoin Price Prediction: Litecoin May See Further Downside
According to the daily chart, if the sellers push the Litecoin price beneath $100, the next support could lie below the lower boundary of the channel and a further downside may come to focus within the market. Moreover, if $90 support breaks, further support levels could be located at $65, $55, and $45 levels while the resistance levels are located above the 9-day and 21-day moving averages at $150, $160, and $170.
Moreover, the technical indicator shows that the Relative Strength Index (14) moves into the oversold region, and if the market successfully stay within this barrier, the increased bearish pressure could keep the Litecoin price within the negative side. Whereas the signal line could drop more and may look primed for another bearish crossover signal.
Against Bitcoin, we can see that the Litecoin price is resuming downward at the time of writing. As the price falls, sellers are posing more threat for buyers to reach the support level of 3000 SAT where the nearest target is located. However, any further bearish movement below the lower boundary of the channel may cause Litecoin to collapse.
However, the continuation of the downtrend could hit the main support at 2700 SAT before falling to 2600 SAT and below. Meanwhile, if the buyers push the market above the 9-day and 21-day moving averages, it may reach the potential resistance at 3500 SAT and above should in case a rebound play out. The technical indicator Relative Strength Index (14) moves to cross below 40-level, indicating that the sellers are dominating the market.
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