Litecoin Price Prediction – November 10
The Litecoin price happens to be one of the best-performing coin as it breaks to the upside to touch the daily high of $302.
Resistance levels: $320, $325, $330
Support levels: $235, $230, $225
During the European session today, after LTC/USD touches the low of $254.18 on the daily chart, the coin needs to experience a much-needed break to the positive side. The Litecoin price is seen posting gains of over 10% in the last 24 hours, trading above the 9-day and 21-day moving averages at a price of $290.55 while the technical indicator Relative Strength Index moves within the overbought region.
Litecoin Price Prediction: Litecoin (LTC) Could Target $400 Level
Looking at the daily chart, the Litecoin price retreats back after touching the daily high of $302. The price is now roaming around the $290.55 level but if the market continues the surge and squeeze; the $310 resistance level is likely to surface in the next few positive moves. Similarly, the Litecoin (LTC) might further look for higher price levels if the bulls continue to show commitment.
Moreover, the market is currently displaying a sign of subduing volatility with price ready to stay above the upper boundary of the channel. Meanwhile, with the look of things, traders can see that the trading volume is rising heavily. Therefore, if LTC/USD pair decides to stay under the control of the bulls, the price may spike to the potential resistance levels at $320, $325, and $330. But on the downside, any movement towards the 9-day and 21-day moving averages may bring the price to the support levels of $235, $230, and $225 respectively.
When compares with Bitcoin, Litecoin (LTC) crosses above the upper boundary of the channel for the price to reach the nearest resistance at 4489 SAT. This resistance may be effectively exceeded and the price could eventually need to close above it, therefore, there might not be any reason to expect the long-term bullish reversal.
However, if the coin decides to face the south, it could refresh lows under 4200 SAT and a possible bearish movement may likely meet the major support at 4000 SAT before falling to 3600 SAT and below while the buyers could push the market to the potential resistances at 4720 SAT and above as the technical indicator Relative Strength Index (14) is extremely at the positive side.
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