Litecoin Price Prediction – December 30
The Litecoin price prediction may need to stage a meaningful short-term rally for the coin to see a rise above $150 level.
Resistance levels: $185, $195, $205
Support levels: $120, $110, $100
LTC/USD is seen moving in a narrow trading range after a bullish rally failed to materialize. The early daily rally towards the $150 level failed to generate sustainable gains, with LTC/USD slowly climbing towards the $150 resistance level. However, the longer that the Litecoin price fails to rally from current trading levels, the greater the chance that we may see the coin falling to a new monthly trading low.
Litecoin Price Prediction: Litecoin (LTC) May Head to the Upside
The Litecoin price is likely to cross above the 9-day and 21-day moving averages but longer the coin fails to rally from current trading levels, the greater the chance that traders may see the coin falling to. A break below the $142 support level may bring a deeper decline towards the support levels of $120, $110, and $100. The technical indicator Relative Strength Index (14) is likely to cross above 40-level, suggesting bullish movement for the market.
However, the daily chart highlights that LTC/USD bulls need to re-group and energized the market by pushing the price above the moving averages. However, any further bullish movements could locate the resistance levels of $185, $195, and $205, and a move above these levels may encourage further Litecoin buying.
When compares with BTC, the Litecoin (LTC) is moving in sideways around the 9-day and 21-day moving averages. The Litecoin price is likely to follow the upward movement if the bulls push the coin above the moving averages.
However, as the technical indicator, Relative Strength Index (14) implies, the signal keeps moving above 40-level with a possible break above the 9-day and 21-day moving averages. However, any further bullish movement could lead to the resistance level of 3500 SAT and above, which could establish a new monthly high for the coin. On the contrary, falling below the lower boundary of the channel may hit the support level of 2700 SAT and below.
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