Litecoin Price Prediction – November 13
The Litecoin price may likely stay above the 9-day and 21-day moving averages as the Relative Strength Index (14) moves upward.
LTC/USD Market
Key Levels:
Resistance levels: $285, $295, $305
Support levels: $215, $205, $195
LTC/USD continue to move above the 9-day and 21-day moving averages within the channel as the price is now trying to create an uptrend. However, should the buyers keep the movement above the 9-day and 21-day moving averages, the coin might resume upward movement. Today, an early trading session touches the $267.11 resistance level before rebounding to where it is trading currently at $256.43.
Litecoin Price Prediction: Will Litecoin Price Target $300 Level?
The Litecoin price needs to stay above the 9-day and 21-day moving averages; therefore, if the resistance level of $270 gives way, the bull-run may come to focus. At the time of writing, the bullish movement seems more dominant as buyers may continue to post strong commitments into the market. For the past few hours, we could see a sharp rise in the market price and if the coin stays above the $260 resistance level, this could further strengthen the market to hit the potential resistance levels of $285, $295, and $305.
On the downside, a lower possible swing may likely retest the previous support below the moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to $215, $205, and $195 support levels. On the other hand, the technical indicator Relative Strength Index (14) may likely remain within the overbought region, indicating that the market may maintain the bullish movement if it comes to play.
When compares with Bitcoin, the Litecoin price keeps operating above the 9-day and 21-day moving averages. However, if the bullish movement continues, the resistance level of 4200 SAT is expected to be visited; more so, there might be a reason to expect the long-term bullish reversal as the red-line of the 9-day MA is still above the green-line of the 21-day MA.
In other words, if the Litecoin price crosses below the 9-day MA, it could refresh lows under 3800 SAT and a possible bearish continuation may likely meet the major support at 3600 SAT before falling to 3500 SAT and below while the buyers may push the coin to the potential resistance at 4400 SAT and above if the bulls successfully push the coin above the channel. Meanwhile, to support the bullish movement, the technical indicator Relative Strength Index (14) is returning back into the overbought region to give more bullish signals.
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