Litecoin Price Analysis – July 17
The Litecoin price prediction shows that LTC is currently making another attempt to cross above the $60 resistance level.
Resistance levels: $80, $85, $90
Support levels: $35, $30, $25
LTC/USD bulls couldn’t break above the resistance level of $56 level as the coin drops to touch the daily low of $54.14. However, the Litecoin price is now hovering below the upper boundary of the channel and has been making an attempt to cross above the barrier. Moreover, the technical indicator Relative Strength Index (14) indicates increasing bullish momentum as the signal line moves to cross above the 60-level, indicating that the market sentiment is presently bullish.
Litecoin Price Analysis: What Could Be the Next Direction for LTC?
The Litecoin price is changing hands at $55.65 where it faces up. More so, if LTC/USD rises again and breaks the $56 resistance level, the coin may continue its upward movement to test the high of $60. Therefore, the nearest resistance levels are located at $80, $85, and $90 while dropping below the 9-day and 21-day moving averages may reach the support levels at $35, $30, and $25 respectively.
LTC/BTC Market: Price Begins the Upward Movement
When compared with Bitcoin, the Litecoin price is moving in the direction above the 9-day and 21-day moving averages as the bulls continue to keep the coin on the positive side. On the downside, if the market price crosses below the moving averages, the next support level may surface at 2400 SAT and could then locate further key support at 2300 SAT and below if the sell-off later becomes huge.
However, on the upside, if the bulls push the price above the upper boundary of the channel; Litecoin could face the 2700 SAT. Any other resistance level lies at 3000 SAT and above while the signal line of the Relative Strength Index (14) crosses above the 60-level to continue the bullish movement. On the other hand, if it moves out of this barrier, sellers may step back into the market.