Litecoin Price Prediction – November 29
The Litecoin price prediction could set a bullish run if the market can make an attempt to climb back above the $220.
LTC/USD Market
Key Levels:
Resistance levels: $240, $250, $260
Support levels: $160, $150, $140
At the moment, LTC/USD is actually is seen moving towards the resistance level of $205 with a price growth of 1.75%. For the fact that the coin is recording some gain, the Litecoin price may continue to follow the bullish movement within the channel. Therefore, traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.
Litecoin Price Prediction: Litecoin (LTC) Looks To Be Bouncing Back
If the Litecoin price stays below the 9-day moving average, the market price may slide back towards the lower boundary of the channel. But if the price moves toward the 9-day and 21-day moving averages, traders can then expect a bullish continuation towards the 9-day moving average. Meanwhile, as the technical indicator Relative Strength Index (14) is seen moving towards 50-level, the possible resistance levels could be found at $240, $250, and $260 in the long term.
However, if the coin keeps the bullish movement for the next couple of days, traders may witness more of it to reach higher levels. Meanwhile, LTC/USD still remain below the 9-day and 21-day moving averages. Inversely, a bearish extension could roll the coin back to the long-term support at $160, $150, and $140 levels.
When compares with Bitcoin, Litecoin continues to follow the sideways movement but trading below the 9-day and 21-day moving averages. In case of a trend reversal, there is a need for an increasing volume and resistance to cause an upsurge in the market. At the moment, Litecoin (LTC) is trading around the 3550 SAT. Therefore, traders can expect close support at the 4000 SAT and below.
However, if a bullish move occurs above the 9-day moving average to hit the nearest resistance at 3800 SAT; we can then confirm a bull-run for the coin. Moreover, the closest resistance lies at 4000 SAT and above as the technical indicator Relative Strength Index (14) moves above 45-level, suggesting bullish movement.
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