Litecoin is striving to beak the resistance and reach one hundred and fifty dollars ($150). Litecoin is moving towards phase D and is showing positive momentum in price. Litecoin is following the footsteps of Bitcoin.
So far, there is an equal ratio of buyers and sellers. When the number of buyers or sellers will decrease there will be a remarkable increase in the price. The anticipated increase in the price will be one hundred and fifty dollars ($150) as predicted by Little-Big-Movements.
Moreover, since the process of halving is quickly approaching in 45 days it is a good time to invest in Litecoin. The demanding price currently for Litecoin is one hundred and thirty-five dollars ($135).
On the price chart, Litecoin has made a pattern of a triangle and the expected profit level is about twenty-five to twenty-six percent (25%-26%).
Currently, the support level for LTC is around one hundred and thirty-four dollars ($134). If the bulls exert pressure the coin will achieve one hundred and forty dollars ($140) and if depreciation occurs the price will fall around one hundred and twenty-five dollars ($125).
One of the users, Alskdj, suggests ‘stop hunting’ as it may lead to extreme volatility. The price chart is not showing any new pattern for LTC however, the positive aspect point is that RSI is indicating to the oversold areas and volume is surging.
To find the expected areas for support and resistance Fibonacci extensions can be used to get better results.