Litecoin price forecast – August 2
Litecoin’s price forecast reveals that LTC’s profit will be 1.81% when the coin is seen approaching the $ 150 level.
LTC / USD market
Resistance levels: $ 170, $ 180, $ 190
Support levels: $ 120, $ 110, $ 100
LTC / USD is seen in trading green at the time of writing, when it trades above the 9 – day and 21 – day moving averages with an increase of 1.1%. According to the daily chart, candle formations currently respect upward movement and exceeding the 9-day moving average may set the market price down. Meanwhile, the nearest support level is around the 21-day moving average at the $ 130 level, while the northern wave may see a large movement above the channel’s upper limit.
Litecoin price forecast: The price of Litecoin may rise on an uptrend channel
As the daily chart shows, Litecoin price is withdrawing from the daily high of $ 145. At the same time, a rise above this level can trigger an intensive purchase at $ 170, $ 180, and $ 190 resistance levels. On the contrary, the price of Litecoin is likely to keep the support level at $ 138, which is the current daily low. Therefore, if the price of Litecoin falls below this support level, it could hit the nearest support of $ 125.
Meanwhile, the next support after this will be below the 21-day MA, where it could even drop to $ 120, $ 110 and $ 100 if sales continue to grow. In addition, the technical indicator Relative Strength Index (14) reveals that the market is likely to exceed level 60 if the signal line keeps moving upwards.
When compared to Bitcoin, buyers try to step back into the market when a coin tries to move above the 21-day moving average. At the same time, viewed from above, the nearest resistance level is 3800 SAT and higher when the technical indicator Relative Strength Index (14) exceeds the 40 level.
Therefore, when looking at the disadvantages; the nearest aid level is 3500 SAT if the price continues to fall to provide new low and low aid of 3200 SAT and below. In addition, a 9-day marketing authorization is still less than a 21-day marketing authorization, which may mean that the market may remain in a weak direction.
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