- Litecoin price prediction expects a rise to $154.
- Strong resistance currently lies at the $142 mark.
- Strong support currently lies at the $138 mark.
The Litecoin price prediction by Vince Prince suggests that Litecoin LTC will bounce see a bounce near the $140 range and rise towards the $154 resistance level. On the 17th of January, the LTC price observed a bearish continuation from the 16th of January, and the price dropped below the $138 level.
1-Day Litecoin price analysis
Litecoin’s price trajectory over the previous day has been similar to Ripple‘s trajectory. Both leading altcoins follow Bitcoin BTC’s footsteps after the king of cryptocurrencies observed a major price correction and fell below the $35000 level. Litecoin price started moving in a descending channel since noon on the 16th of January. The cryptocurrency observed a 24-hours high at $147, and it fell as low as $138 during the day. At the time of writing, Litecoin is trading hands at $138.49.
The technicals show that the cryptocurrency is still fighting to be in the buyers’ zone. Thee oscillators depict a neutral condition for the LTCUSD pair, one at the buy indication, one at the sell indication alongside nine neutral oscillators. The moving averages also stand neutral with a slight buying indication, with eight of these at the sell indication, one neutral, and eight on the buy indication.
The LTCUSD pair has slipped below the midline of the Bollinger bands. This shows that the cryptocurrency might drop bearish towards the $115.78 level, where the next target lies for the short entry alongside the lower Bollinger band. The Bollinger bands show an increase in expansion and, therefore, increased price volatility compared to the volatility observed between the 7th and the 14th of January.
Litecoin price prediction: What’s next for the LTC price?
The Trading View analyst Vince Prince suggests that the LTC price will undergo a price bounce near the $140 level with a target price near the $144 to $148 range. The price is expected to move sideways before it sees another bounce towards the $154 level.
In the analyst’s opinion, the cryptocurrency is to rise towards the $154 level after its current drop to the $140 mark. Per the Litecoin price prediction, the altcoin will see a bounce near the ascending trend line highlighted by the analyst, and then it will test the flat resistance at $154.50. A break above this resistance will allow the cryptocurrency to go long towards the $178 mark.
Below the main ascending trend line lies the bearish-continuation-zone that the LTC price will fall to if it crashed below the support here. We can also see that LTC is supported by the green Exponential Moving Average and the ascending trend line altogether, which increases the chance for the upward bounce.
Analyst Crypto Curb explains in their long-term Litecoin price prediction that the LTC price can rise towards the $324 mark. While the cryptocurrency appears to be lagging behind ETH price as of now, the analyst believes that it will move to the $300 level over the next few months.