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Litecoin Price Prediction: LTC/USD Breaks Overhead Resistance at $84 but Shows Little Strength on the Upside

Litecoin Price Prediction: LTC/USD Breaks Overhead Resistance at $84 but Shows Little Strength on the Upside

Litecoin (LTC) Price Prediction – November 23, 2020
LTC/USD has broken above the overhead resistance at $84. The uptrend has been repelled as price fluctuates between $78 and $87.50.In a nutshell, the LTC/BTC is in an uptrend as the crypto reached a high of Ƀ0.004600.

LTC/USD Market

Key Levels:
Resistance Levels: $80, $100, $120
Support Levels: $50, $40, $20

LTC/USD – Daily Chart

On November 21, LTC rebounded to break the overhead resistance at $84. The bulls could not continue with the uptrend as it was repelled at $87.50. In the meantime, price is fluctuating between $78 and $87.50. For the upside momentum to resume, buyers have to sustain the bullish momentum above the $84 support. A rebound above the $84 support will propel price to reach the $100 high. Conversely, if they fail to hold the $84 support, the crypto will slide down to $76 support.

Subsequently, the downtrend will resume. Presently, LTC is fluctuating in the price range as the bulls and bears decide the next move.Meanwhile, there is a possibility of the coin rising if the current resistance is broken. On November 18 uptrend the coin was resisted. The retraced candle body tested the 78.6% Fibonacci retracement level. This implies LTC will rise and reverse at level 1.272 Fibonacci extensions. That is the high of $86.84

Litecoin Indicator Analysis
The price bars are well above the SMAs which indicates a possible rise of the coin. However, if price breaks below the SMAs the coin is likely to fall. LTC is above the 40% range of the daily stochastic. It implies that the coin is in a bullish momentum.

LTC/BTC – 4 Chart

On the LTC/BTC chart, the crypto is in an uptrend. The price of the coin is making a series of higher highs and higher lows. The crypto has risen to level Ƀ0.004600. There are chances of further upward movement of the coin. On the November 19 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. It indicates that the market will rise to level 2.0 Fibonacci extension or Ƀ0.005283 high.

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Litecoin Price Prediction: LTC/USD Faces Rejection at $76 as Bulls and Bears Contemplate the Next Move

Litecoin Price Prediction: LTC/USD Faces Rejection at $76 as Bulls and Bears Contemplate the Next Move

 

Litecoin (LTC) Price Prediction – November 18, 2020

LTC/USD breaks $68 overhead resistance as price reaches the previous high at $76. The upward move has been impeded as the price reaches a high of $76. Presently, LTC is fluctuating between $70 and $76 as bulls and bears wait for the next move. The LTC/BTC has resumed downward move after rejection at Ƀ0.004500.

LTC/USD Market
Key Levels:
Resistance Levels: $80, $100, $120
Support Levels: $50, $40, $20

LTC/USD – Daily Chart

Litecoin is trading at $73 after retesting the previous high at $76. LTC is consolidating above $70 as they fail to break above the $76 resistance. Presently, BTC is fluctuating between $70 and $76. On the upside, if the price breaks the $76 resistance, the upward move will resume. LTC will rise and possibly reach the February price level of $80. The bears take advantage to break the support at $70 if the bulls fail to break into previous highs. Conversely, the bears will attempt to push LTC below the $68 support by breaking the $70 support. Subsequently, the price will fall to a low at $64. Meanwhile, LTC is trading at $73 at the time of writing.

Litecoin Indicator Analysis
The crypto price is at level 69 of the Relative Strength Index period 14. The coin was earlier in the overbought region but has fallen to the uptrend zone. It indicates it is capable of rising. The price bars are well above the SMAs which indicates a possible rise of the coin.

LTC/BTC – 4 Hour Chart

On the LTC/BTC chart, November 16 uptrend was terminated at level Ƀ0.004500. The retraced green candle tested the 50% Fibonacci retracement level. It indicates that the market will fall to level 2.0 Fibonacci extension or Ƀ0.003743. The coin is below the 25% range of the daily stochastic which indicates that it is in a bearish momentum.

Source