Litecoin Price Prediction – September 4
According to the daily chart, the Litecoin price may be looking for support at $210 where the market is likely to provide a rebound.
LTC/USD Market
Key Levels:
Resistance levels: $245, $255, $265
Support levels: $185, $175, $165
For the past few days, the daily movement of LTC/USD has been impressive as the coin touches the daily high of $225 resistance level but if the Litecoin price improves in the last hours of the day, the intraday traders may expect a positive close above the opening price of $213 level. At the time of writing, the buyers keep focusing on the upside, suggesting more bullish movements for the coin.
Litecoin Price Prediction: Litecoin Price May Form More Highs
As reveals by the daily chart, the Litecoin price may continue to experience an uptrend if it continues to trade above the 9-day and 21-day moving averages. However, if the coin falls beneath the support at $200, traders can expect additional support at $185 and then followed with added critical supports at $175 and $165 below the 9-day moving averages.
On the upside, if the bulls step back into the market, the Litecoin price may cross above the upper boundary of the channel as higher resistance levels could be found at $245, $255, and $265. Nevertheless, the signal line of Relative Strength Index (14) is moving within the overbought zone which reveals that buyers may continue to control the market movement.
Against Bitcoin, the daily chart reveals that LTC is ranging as the coin retreats from the daily high of 4474 SAT. However, the sellers are seen posing more threat to the nearest support level of 4200 SAT. Meanwhile, an eventual break below the upper boundary of the channel may lead the coin towards the negative side.
However, as the technical indicator Relative Strength Index (14) moves within the overbought zone. Therefore, any bearish movement out of this zone could bring the coin to hit the major support at 3900 SAT and below. But if the buyers could return the price back above the upper boundary of the channel, LTC/BTC may likely reach the potential resistance at 4700 SAT and above.
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