LTC Price Prediction – January 28
LTC/USD may likely set a bullish run if the market can climb back above the $150.
Resistance levels: $160, $170, $180
Support levels: $115, $105, $95
LTC/USD is actually running a little retracement move towards $150 with a price growth of 6.17%. Combine with today’s gain, Litecoin (LTC) is still maintaining an upward movement within the channel and the market price is expected to continue to rise as soon as the bulls put more buying pressure on the market.
What to Expect from Litecoin (LTC)
If LTC/USD breaks below the 9-day moving average this time, the market price may slide back to $130 and $120 support. But if the market price keeps following the upward movement, traders may expect a bullish continuation towards the 21-day moving average. In addition, the technical indicator RSI (14) is moving above the 50-level, the possible resistance levels may be found at $160, $170, and $180 in the long-term.
However, if the coin continues the bullish movement for the next couple of days, traders may witness more of the upward movement to reach the higher levels. Meanwhile, LTC/USD could still experience a bearish movement in the short-term and a bearish extension could roll the coin back to the long-term support at $115, $105, and $95 levels.
Against Bitcoin, LTC continues to follow the downward movement, trading below the 9-day and 21-day moving averages. Should in case a trend reversal occurs, there may be a need for an increasing volume and resistance to cause an upsurge in the market. Now, the coin is trading around the 3816 SAT and traders may expect close support at the 3400 SAT and below.
However, if a bullish move occurs and validates a break significantly above the 9-day and 21-day moving averages to hit the nearest resistance at 4200 SAT; we can then confirm a bull-run for the pair. More so, the closest resistance lies at 4400 SAT and above as the RSI (14) moves below 40-level.