Litecoin Price Prediction – July 27
The Litecoin price is currently changing hands at $121.46 as the technical indicator RSI (14) crosses above 40-level.
LTC/USD Market
Key Levels:
Resistance levels: $150, $160, $170
Support levels: $90, $80, $70
LTC/USD is currently trading around $121 and once it manages to surpass the potential resistance of $120, the next target is located at $125 where it trades above the 9-day and 21-day moving averages. However, a push from here could send the price straight to around $130 as the last 24-hours surge is supported at the $115 support level. If the current level fails to hold strong, the Litecoin (LTC) could slip below the 9-day and 21-day moving averages.
Litecoin Price Prediction: Is Litecoin Ready for the Upside?
Looking at the daily chart, the Litecoin bulls are now coming back into the market. Therefore, if the buyers can put more effort and push the market price above the 21-day moving average, LTC/USD may likely hit the resistance levels of $150, $160, and $170 respectively. In addition, any bullish movement above these key resistance levels may likely encourage further buying.
Moreover, a break below the 9-day and 21-day MAs may provoke an even deeper decline towards the critical supports at $90, $80, and $70. Meanwhile, looking at the technical indicator Relative Strength Index (14), Litecoin may exhibit the tendencies to follow an upward trend as the coin moves towards the 45-level, suggesting that the market may remain stable at the average.
When compares with Bitcoin, the Litecoin price is making an attempt to cross the 9-day moving average which may hit the nearest resistance at 3800 SAT. Therefore, unless this resistance effectively holds and the price ends up closing above it, there might not be any reason to expect the long-term bullish reversal.
However, bring the price towards the lower boundary of the channel could refresh lows under 3400 SAT as a possible bearish continuation may likely meet the major support at 3300 SAT and below. The buyers may push the coin to the potential resistance at 4100 SAT and above. More so, the technical indicator Relative Strength Index (14) is ready to cross above 40-level, suggesting more bullish signals.
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