Litecoin Price Prediction: LTC/USD Follows Bearish Movement; Price at Risk of Closing Below $150 Support

LTC Value Prediction – February 26

LTC/USD worth is transferring in the direction of the south because the coin falls beneath the decrease boundary of the channel.

LTC/USD Market

Key Ranges:

Resistance ranges: $210, $220, $230

Assist ranges: $130, $120, $110

LTC/USD is following a bearish motion beneath the 9-day and 21-day transferring averages. Nonetheless, LTC/USD couldn’t keep away from the bearish wave that ranged the market in the previous couple of days. This painful downward development exerted intense stress on key assist established beneath $200. Extra so, the declines devastated the assist zone and pushed the coin to lower than $180.

What to Count on from Litecoin

Trying on the each day chart, merchants can see that LTC is at present hovering at $170.31. If the worth stage might be maintained, merchants may take into account a buyback with $200 support-turned-resistance earlier than breaking above the 9-day and 21-day transferring averages to the touch the resistance ranges at $210, $220, and $230. However because it stands now, the bears are attempting to go to shut helps earlier than climbing greater.

As well as, Litecoin continues to be following the downtrend inside the channel formation, and this reveals that the market continues to be bearish. If the worth strikes beneath the decrease boundary of the channel, which corresponds to the assist at $150, merchants can count on the LTC market to proceed its downward stress and the worth may slip to the essential helps at $130, $120, and $110 respectively because the RSI (14) strikes beneath 45-level, confirming the downward market dynamics.

When compares with Bitcoin, LTC continues to observe the bearish development because the assist additional outweighs the resistance. In case of a development reversal, there’s a want for an rising quantity and resistance to trigger an upsurge out there.  Now, the coin is buying and selling across the 3681 SAT beneath the transferring averages. We are able to count on shut assist on the 3300 SAT and beneath because the RSI (14) faces the south.

Nonetheless, there’s no signal of a bullish motion within the LTC market in the mean time. Nonetheless, if a bullish transfer happens and validates a break considerably above the transferring averages; we will then affirm a bull-run for the pair. Extra so, the closest resistance lies at 4200 SAT and above.