Litecoin Price Prediction – February 6
The Litecoin price prediction sees a 1.68% price increase over the past 24 hours of trading as the cryptocurrency touches $127.
LTC/USD Market
Key Levels:
Resistance levels: $160, $170, $180
Support levels: $75, $65, $55
LTC/USD gains a 1.68% price rise over the past 24 hours of trading as the cryptocurrency bounces from $120.66 to $127.92 resistance level. The Litecoin may face the upside as the red-line of the 9-day MA crosses above the green-line of the 21-day MA. At the time of writing, the movement is shifting back into the bullish favor, with the technical indicator Relative Strength Index (14) moving above 50-level.
Litecoin Price Prediction: Litecoin (LTC) Ready for a Spike above $130 Level
The Litecoin price may need to rise above $130 if the buyers keep the price above the 9-day and 21-day moving averages. On the contrary, traders may consider the market as bearish if the sellers take the market movement to the lower side.
However, towards the upside, the first level of resistance lies at $140, while the potential resistance levels lie at $160, $170, and $180. Moreover, if the sellers push the price beneath the lower boundary of the channel, traders may expect supports to be located at $75, 65, and $55 while the technical indicator RSI (14) faces the north to give more bullish signals.
Compared with Bitcoin, LTC is trading within the 9-day and 21-day moving averages. The Litecoin price is likely to cross above the 21-day moving average. From the above, the nearest resistance level is likely to touch 3200 SAT. Above this, higher resistance lies at 3400 SAT and above.
On the other hand, if the selling pressure creates a fresh low, lower support may be found at 2500 SAT and below. The technical indicator Relative Strength Index (14) moves around 45-level, which shows that the market may be preparing for an uptrend.
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Source: https://insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-rebounds-as-the-price-faces-130-level