LTC/USD Touches $187 Level, After Defending $173 Support

Litecoin Price Prediction – October 7

The Litecoin price settles above the 9-day and 21-day moving averages as the Relative Strength Index (14) moves to cross 60-level.

LTC/USD Market

Key Levels:

Resistance levels: $200, $210, $220

Support levels: $155, $145, $135

At the time of writing, LTC/USD is seen hovering above the 9-day and 21-day moving averages as the coin has been following an uptrend since the beginning of this month, therefore, with this movement, the coin might remain at the upside. Today, an early trading session touches $187 level before retreating to where it is trading at $178.19.

Litecoin Price Prediction: Litecoin (LTC) May Spike to $190 Resistance

As the Litecoin price stays above the 9-day and 21-day moving averages, if the resistance of $180 gives way, the bull-run may come to focus and it may be extended above the resistance level of $190. At the moment, the bullish scenario seems more dominant as buyers continue to post firm commitments into the market. For the past few days, we could see a sharp rise in the market price and if the coin stays above the $180 level, this could further strengthen the market to $200, $210, and $220 resistance levels.

On the contrary, a bearish movement may likely push the coin to retest the previous support below the moving averages and if the bears manage to fuel the market, traders may expect a further drop to $155, $145, and $135 support levels. In other words, the Relative Strength Index (14) is now moving towards 60-level, indicating that the market may retain the bullish trend.

When compares with Bitcoin, the Litecoin price is still below the 9-day and 21-day moving averages despite touching the daily high of 3433 SAT. However, Litecoin price may experience another drop if it crosses below the lower boundary of the channel. Breaking below this barrier may take the price to the critical support level at 3000 SAT and 2800 SAT.

Presently, the Litecoin price is trading at 3323 SAT, if the bulls can hold the price as it is and move the market above the 9-day MA, the next key resistance level could be found at 3500 SAT and this might take the price to the potential resistance levels of 3600 SAT and 3800 SAT. Presently, the technical indicator Relative Strength Index (14) moves to cross above 40-level, suggesting a bullish movement.

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