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Litecoin Price Prediction – September 9
The Litecoin price prediction could set a bullish run if the market can make an attempt to climb back above the $200.
LTC/USD Market
Key Levels:
Resistance levels: $220, $230, $240
Support levels: $150, $140, $130
At the moment, LTC/USD is actually running a little retracement move towards $185 with a price growth of 3.02%. For the fact that the coin is recording some gain, the Litecoin price may continue to maintain a sideways movement within the channel. Therefore, traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.
Litecoin Price Prediction: What to Expect from Litecoin (LTC)
If the Litecoin price stays below the 9-day moving average, the market price may slide back towards the lower boundary of the channel. But if the price keeps respecting the upward movement, traders can then expect a bullish continuation towards the 9-day moving average. Meanwhile, as the technical indicator Relative Strength Index (14) is seen moving around 49-level, the possible resistance levels could be found at $220, $230, and $240 in the long term.
However, if the coin keeps the bullish movement for the next couple of days, traders may witness more of it to reach higher levels. Meanwhile, LTC/USD still remains bearish in the short term. Inversely, a bearish extension could roll the coin back to the long-term support at $150, $140, and $130 levels.
When compares with Bitcoin, Litecoin continues to follow the sideways movement but trading within the 9-day and 21-day moving averages. In case of a trend reversal, there is a need for an increasing volume and resistance to cause an upsurge in the market. At the moment, Litecoin (LTC) is trading around the 3899 SAT. Therefore, traders can expect close support at the 3600 SAT and below.
However, if a bullish move occurs and validates a break significantly above the 9-day moving average to hit the nearest resistance at 4200 SAT; we can then confirm a bull-run for the coin. Moreover, the closest resistance lies at 4300 SAT and above as the technical indicator Relative Strength Index (14) moves around 52-level, suggesting sideways movement.
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