Litecoin Price Prediction – August 24
The daily chart shows that Litecoin (LTC) could not climb above the $188 level after the price touches the low of $182.
Resistance levels: $210, $215, $220
Support levels: $170, $165, $160
LTC/USD is currently struggling to gain momentum past the $187 level. Meanwhile, a major support level remains at $180, but if it breaks with a daily candle closing below the level, it is likely that the Litecoin price falls below the 9-day and 21-day moving averages.
Litecoin Price Prediction: The Litecoin Price May Move Sideways
As reveals by the daily chart, the Litecoin price is hovering at $187.64 as the price could fall towards the 9-day and 21-day moving averages. However, if the market price crosses below these moving averages, it can begin to experience a bearish momentum which could target the nearest support at $175 before it could reach the critical supports at $170, $165, and $160.
Therefore, if LTC/USD breaks above the upper boundary of the channel, the coin may likely trade above the resistance level of $190 as this would confirm an uptrend. Moreover, should in case the price decides to stay above the channel, the coin may likely find the potential resistance levels at $210, $215, and $220 as the technical indicator Relative Strength Index (14) signal line moves in the same direction.
Against Bitcoin, the Litecoin price is currently moving within the 9-day and 21-day moving averages but if the coin crosses below the moving averages, the bears are likely to keep releasing a huge pressure on the market as the technical indicator Relative Strength Index (14) stays below 55-level, which may drop below the current level.
Nevertheless, if the coin falls below the 21-day moving averages, it could hit the nearest support at 3600 SAT and any further negative movement could lower the Litecoin price to the support of 3400 SAT and below. In case of a rebound, the coin may cross above the upper boundary of the channel before resuming the rally. More so, if the buyers try to keep the uptrend, the market may experience a bull-run to the resistance level of 4200 SAT and above.
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