Litecoin Price Prediction – October 10
The daily chart shows that the Litecoin price could not climb above the $185 level as the price touches the low of $176.
Resistance levels: $200, $210, $220
Support levels: $160, $150, $140
Despite an uptick in other cryptos, LTC/USD is currently struggling to gather momentum above the $185 level. Meanwhile, a key level of support remains at $175, but if that breaks with a daily candle close below the level, it may likely slump below the 9-day and 21-day moving averages.
Litecoin Price Prediction: Litecoin (LTC) May Still Climb Higher
The Litecoin price is currently trading above the 9-day and 21-day moving averages. However, if the market price crosses below the moving averages, it can experience a period of bearish momentum and it could target the $170 support level before critically looking towards the support levels of $160, $150, and $140. Meanwhile, for that to happen, the coin would need to keep its movement above the moving averages.
Therefore, if Litecoin (LTC) breaks above $185, it may likely face a bullish movement with higher highs and higher lows. Should in case the price decides to maintain the bullish movement, the coin may likely find the potential resistance at $200, $210, and $220 as the technical indicator Relative Strength Index (14) suggests a sideways movement.
When compares with Bitcoin, the Litecoin price is currently following a bearish sentiment, trading under the 9-day and 21-day moving averages within the descending channel. However, if the bulls attempt to gain momentum, the bears are likely to keep releasing a huge pressure on the market as the technical indicator Relative Strength Index (14) may cross into the oversold region, suggesting more bearish signals.
Therefore, if LTC/BTC falls below the lower boundary of the channel, it may likely hit the nearest support at 3100 SAT. Any further negative movement could significantly lower the price to 3000 SAT and below. In case of a rebound, the coin can visit the 3400 SAT above the moving averages before resuming the rally. If the bulls manage to stay well above this barrier, traders could see a bull-run to the resistance level of 3500 SAT and above.
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