Litecoin Price Prediction – October 22
According to the daily chart, the Litecoin price prediction may be looking for support at $190 where the market is likely to provide a rebound.
Resistance levels: $220, $230, $240
Support levels: $170, $160, $150
Since yesterday, the daily movement of LTC/USD has not been impressive. Therefore, if the Litecoin (LTC) improves in the last hours of the day, the intraday traders may expect a positive close above the opening price of $196 level. At the moment, the technical indicators keep focusing on the downside, suggesting more bearish movements for the coin.
Litecoin Price Prediction: Litecoin Price May Slip Below $190
As reveals by the daily chart, the Litecoin price may continue to experience a downtrend if it falls beneath the 9-day moving average. Therefore, traders can expect additional support at $170 and then followed with added critical supports at $160 and $150 below the 21-day moving average.
On the upside, if the bulls step back into the market, LTC/USD may hit the nearest resistance at $200 and $210 which is above the 9-day and 21-day moving averages, higher resistance lies at $220, $230, and $240. However, the signal line of Relative Strength Index (14) is likely to cross below 60-level which reveals that sellers may continue to surface within the market movement.
Against Bitcoin, the Litecoin price remains above the 9-day moving average as the 9-day moving average is likely to cross above the 21-day moving average. Meanwhile, if the market price eventually remains and closes above moving averages, traders might expect a long-term bullish movement.
On the other hand, any bearish movement towards the lower boundary of the channel may likely meet the major support at 3000 SAT before falling to 2900 SAT and below while the buyers may need to push the market to the potential resistances at 3400 SAT and above as the technical indicator Relative Strength Index (14) is likely to cross above 45-level to give more bullish signals.
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