LTC/USD Breaks Above $140 Resistance


Litecoin Price Prediction – July 26

The Litecoin price escalates but a break above $140 is expected to pull the coin towards $150 in the coming trading sessions.

LTC/USD Market

Key Levels:

Resistance levels: $170, $180, $190

Support levels: $95, $85, $75

LTCUSD – Daily Chart

LTC/USD is seen trading around the resistance level of $133.20 after touching the daily high of $140.43 in the early hours of today. This is a move that could easily pave the way for gains above $150 and towards $160. Therefore, if the technical indicator Relative Strength Index (14) crosses above the 50-level, the market may show that the bullish grip is getting stronger.

Litecoin Price Prediction: The Litecoin Price May Break Upward

The Litecoin price is currently holding the ground above the 9-day and 21-day moving averages after a major recovery from $127.74. However, this shows that bulls may continue to have the upper hand in the price movement and they could easily push the coin towards the potential resistance of $170, $180, and $190. In other words, if the buying action fails to break above $150, then LTC/USD could instead settle for consolidation.

Moreover, any breakout above the upper boundary of the channel will still be having an impact on the price. Furthermore, it is about time that buyers increase their confidence in the recovery because $160 is still achievable. Therefore, if the bears push the coin below the 9-day and 21-day moving averages, the support levels of $95, $85, and $75 may be reached.

When compares with Bitcoin, the Litecoin price remains below the 9-day and 21-day moving averages as the 9-day MA is below the 21-day MA. More so, if the Litecoin price closes above moving averages, traders might expect a long-term bearish movement.

LTCBTC – Daily Chart

However, any bearish movement towards the lower boundary of the channel may likely meet the major support at 3400 SAT before falling to 3200 SAT and below while the buyers may need to push the market to the potential resistance at 4000 SAT and above as the technical indicator Relatively Strength Index (14) is likely to cross into the oversold region to give more bearish signals.

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