LTC/USD Consolidates Around $148 Level

Litecoin Price Prediction – December 30

The Litecoin price prediction may need to stage a meaningful short-term rally for the coin to see a rise above $150 level.

LTC/USD Market

Key Levels:

Resistance levels: $185, $195, $205

Support levels: $120, $110, $100

LTC/USD is seen moving in a narrow trading range after a bullish rally failed to materialize. The early daily rally towards the $150 level failed to generate sustainable gains, with LTC/USD slowly climbing towards the $150 resistance level. However, the longer that the Litecoin price fails to rally from current trading levels, the greater the chance that we may see the coin falling to a new monthly trading low.

Litecoin Price Prediction: Litecoin (LTC) May Head to the Upside

The Litecoin price is likely to cross above the 9-day and 21-day moving averages but longer the coin fails to rally from current trading levels, the greater the chance that traders may see the coin falling to. A break below the $142 support level may bring a deeper decline towards the support levels of $120, $110, and $100. The technical indicator Relative Strength Index (14) is likely to cross above 40-level, suggesting bullish movement for the market.

However, the daily chart highlights that LTC/USD bulls need to re-group and energized the market by pushing the price above the moving averages. However, any further bullish movements could locate the resistance levels of $185, $195, and $205, and a move above these levels may encourage further Litecoin buying.

When compares with BTC, the Litecoin (LTC) is moving in sideways around the 9-day and 21-day moving averages. The Litecoin price is likely to follow the upward movement if the bulls push the coin above the moving averages.

LTCBTC – Daily Chart

However, as the technical indicator, Relative Strength Index (14) implies, the signal keeps moving above 40-level with a possible break above the 9-day and 21-day moving averages. However, any further bullish movement could lead to the resistance level of 3500 SAT and above, which could establish a new monthly high for the coin. On the contrary, falling below the lower boundary of the channel may hit the support level of 2700 SAT and below.

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