https://ift.tt/3EXyz1u Rebound May Surface as LTC/USD Trades Below $150

Litecoin Price Prediction – January 3

Litecoin (LTC) manages to maintain its position as the coin moves sideways while the bulls still maintain the desire to defend the support at $145.

LTC/USD Market

Key Levels:

Resistance levels: $180, $190, $200

Support levels: $120, $110, $100

According to the daily chart, LTC/USD is currently changing hands at $148.77, down with a 1.61% loss. The coin may continue to trade below the 9-day and 21-day moving averages if the technical indicator crosses into the negative side. However, if the market reclaims the positive momentum, the Litecoin price may cross above the moving averages. Otherwise, more breakdowns may likely play out in the market.

Litecoin Price Prediction: LTC Price Could Head to the South

The Litecoin price is seen trading below the 9-day and 21-day moving averages. Therefore, a possible retracement below this barrier may drag the price to the support levels of $120, $110, and $100, creating a new monthly low. But if bulls decide to move the market price upward, buying pressure may resume and could push the coin above the moving averages.

Moreover, the intraday movement of the coin is quite unstable as the 9-day MA is stick to the 21-day MA. However, while crossing below the 21-day moving average, a rebound might occur and if the bulls put more effort, they could push the Litecoin price towards the upper boundary of the channel. Further bearish movement could reach the resistance levels of $180, $190, and $200 but the technical indicator Relative Strength Index (14) is likely to cross below 45-level, suggesting a bearish signal.

Against Bitcoin, Litecoin price is moving sideways around the 9-day and 21-day moving averages. For now, the coin is currently trading at the 3191 SAT level. At the moment, the market may continue to consolidate if the technical indicator moves in the same direction.

LTCBTC – Daily Chart

However, if the price cross below the lower boundary of the channel, the nearest key support lie at 3000 SAT, but further support could be found at 2700 SAT and below in a subsequent move. Similarly, an upward movement above the moving averages is likely to find immediate resistance at 3300 SAT, If the bulls climb above this level, higher resistance lies at 3500 SAT and above. Meanwhile, the Relative Strength Index (14) is moving around 49-level and as it stands now, the market may remain indecisive.

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