Litecoin Price Prediction – August 21
The Litecoin price continues to maintain its position but the bulls failed to push the price above the channel.
Resistance levels: $210, $220, $230
Support levels: $150, $140, $130
The intraday movement of LTC/USD has not been impressive enough as the coin may likely cross below the 9-day moving average. However, if Litecoin (LTC) improves in the last hours of the day, the intraday traders may expect a positive close but presently, most of the top cryptocurrencies are under selling pressure as traders hope for improvement which could take some time.
Litecoin Price Prediction: Litecoin May Rally Above the Channel
A couple of days ago, the Litecoin price started with a trading price of about $162.66 and traded above the resistance level of $184. Today, the market opened with a little rise after which the bears grabbed the price and dragged it towards the point where it started trading yesterday. Meanwhile, Litecoin (LTC) might not be able to maintain its effectiveness before it started showing some signs of downward movement.
However, the intraday movement of the coin is quite unstable, but starting at $175 support, a rebound may likely occur and if the bulls can put more effort to push the Litecoin price to cross above the upper boundary of the channel and the potential resistance levels may be found at $210, $220, and $230 while the supports could be located at $150, $140, and $130 as the technical indicator Relative Strength Index (14) may cross below 60-level to increase the bearish momentum.
When compares with Bitcoin, traders can easily see that the pair has eventually broken below the 9-day and 21-day moving average. More so, the Litecoin price could see another sharp drop at around 3600 SAT support level. Breaking this level could further take the price to the critical support levels at 3200 SAT and 3000 SAT respectively.
However, the Litecoin price is trading at the 3632 SAT presently but if the bulls can hold the price and move the market upward, the next key resistance levels could be found above the upper boundary of the channel at $4000 SAT. More so, getting to this level could push the coin to the potential resistance levels of 4200 SAT and 4400 SAT. Meanwhile, the Relative Strength Index (14) is moving towards 40-level, indicating a bearish movement at the moment.
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