https://ift.tt/9wpjMvV Struggles for a Recovery Above $100

Litecoin Price Prediction – February 22

The Litecoin price prediction reveals that the slight bullish movement for Litecoin (LTC) is still intact.

LTC/USD Market

Key Levels:

Resistance levels: $150, $160, $170

Support levels: $55, $45, $35

LTC/USD is ranging below the 9-day and 21-day moving averages as the Litecoin price is currently hovering at $106 after touching the daily low of $100.28. However, an early trading session towards the $110 level failed to generate sustainable gains, but any further attempt may push the coin to cross above the moving averages.

Litecoin Price Prediction: Litecoin (LTC) Needs to Stay Above $100 Level

According to the daily chart, the longer the Litecoin price fails to rally from current trading levels, the greater the chance that buyers may see the Litecoin price falling towards the lower boundary of the channel. However, a break below the $80 level may provoke the current movement and cause the market to decline towards the $55, $45, and $35 support levels.

Nevertheless, the current movement reveals that the Litecoin price may face upward movement if the 9-day MA crosses above the 21-day MA and LTC/USD may need to break the technical region of the $125 level which is above the moving averages which may cause the coin to reach the potential resistance levels of $150, $160, and $170. The technical indicator Relative Strength Index (14) is likely to cross above 40-level, which shows that the market may still follow an upward movement.

Against Bitcoin, the Litecoin price remains below the 9-day and 21-day moving average as the coin hovers at 2804 SAT. However, the bullish structure may not come to play now but the Litecoin (LTC) may continue to move sideways or break above the moving averages if the technical indicator Relative Strength Index (14) crosses above 40-level.

Therefore, until the price break above moving averages, the direction of the trend may be ranging. Moreover, if the coin moves to the upside and crosses above the upper boundary of the channel, it could reach the potential resistance level of 3300 SAT and above while the support level could be located at 2300 SAT and below.

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