Litecoin Price Prediction – September 27
The Litecoin price faces a sharp price decline of around 2.09% after the coin touches the daily high of $154.97 to trade at $147.59.
LTC/USD Market
Key Levels:
Resistance levels: $175, $185, $195
Support levels: $125, $115, $105
The daily chart shows that LTC/USD is trading in red as the coin slides toward the lower boundary of the change. A few hours ago, the cryptocurrency couldn’t break $154 and it’s been rejected. More importantly, the bulls may need to climb above the 9-day and 21-day moving average convincingly as a clear break of this could take the coin up to the $170 level.
Litecoin Price Prediction: Litecoin (LTC) May Break to the Downside
According to the daily chart, the Litecoin price touches the daily high of $154.97 but if the nearest support of $145 gives way, the sell-off may come to play and it may be extended towards the support level of $140. However, sellers may be more dominant if the bears begin to post firm commitment as the technical indicator Relative Strength Index (14) shows a downward trend, indicating the latest selling pressure on the market.
More so, traders could see a sharp drop below the channel, and breaking this barrier could further weaken the market to supports at $125, $115, and $105. Meanwhile, a possible bullish movement above the 9-day moving average may retest the previous resistance level above the 21-day moving average and the coin could experience a further increase to the resistance levels of $175, $185, and $195.
When compares with Bitcoin, the Litecoin price continues to follow the downtrend. For a trend reversal, there’s a need for a bullish movement above the 9-day moving average. At the moment, the coin is likely to cross below the lower boundary of the channel. Therefore, if the bearish movement continues, traders can expect close support at the 3400 SAT before breaking to 3300 SAT and critically 3200 SAT.
However, there’s no sign of a bullish movement at the moment but if a bullish move occurs and validates a break significantly above the moving averages and hits the nearest resistance at 3600 SAT; traders can then confirm an upward movement for the coin as the potential resistance lies at 3800 SAT and above.
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