Litecoin Price Prediction for Today, November 17 – LTC Technical Analysis

The Litecoin price prediction shows that LTC is beginning to restart the uptrend after trading below the moving averages.

Litecoin Prediction Statistics Data:

Litecoin price now – $71.9
Litecoin market cap – $5 billion
Litecoin circulating supply – 73.8 million
Litecoin total supply – 84 million
Litecoin CoinMarketCap ranking – #18

LTC/USD Market

Key levels:

Resistance Levels: $80, $85, $90

Support Levels: $65, $60, $55

After touching the resistance level of 74.36, LTC/USD begins to retreat below the 9-day and 21-day moving averages. However, a daily close above the moving averages may increase the Litecoin price to $75. Therefore, with the current price movement, the bulls may need to step back into the market and a consistent price increase may bring more buyers into the market.

Litecoin Price Prediction: LTC Price May Break Higher

According to the daily chart, the Litecoin price may break above the upper boundary of the channel if the bulls step into the market and increase the buying pressure. In the past few days, after the Litecoin price crosses above the 9-day and 21-day moving averages, the coin is looking forward toward the channel. Moreover, the daily chart reveals that if the coin spikes above the 9-day moving average, it will push the coin to the nearest resistance level of $75.

Nevertheless, the bears may take advantage to face the lower boundary of the channel if the bulls fail to move the price upward. Meanwhile, the 9-day MA is still hovering above the 21-day MA, if the Litecoin price spikes above the upper boundary of the channel, it could hit the resistance levels of $80, $85, and $90 but facing the south may bring the price to the supports at $65, $60, and $55.

LTC/BTC Remains Below the Moving Averages

Against Bitcoin, the Litecoin price is hovering below the 9-day and 21-day moving averages. However, the intraday trading ranges as the coin retreats below the daily high of 1983 SAT, but any bullish movement toward the upper boundary of the channel could reach the resistance level at 2300 SAT and above.

Meanwhile, if the sellers bring the market to the south, traders can expect a fall below the lower boundary of the channel, breaking below this barrier may hit the support at 1700 SAT and below. However, if the 9-day MA crosses below the 21-day MA, the market is likely to face the downside.

Alternatives to Litecoin

The Litecoin price is currently trading bearishly. However, if the market price continues with the downtrend, it can experience a period of bearish momentum, and it could target the nearest support level at $70 before reaching the support levels of $65, $60, and $55. Meanwhile, for that not to happen, the coin would need to push its movement above the upper boundary of the channel.

Nevertheless, while Litecoin has undoubtedly been a stalwart in the cryptocurrency space. With a market cap of $5 billion and an 18th ranking, Litecoin has proven its resilience over time. However, the emergence of Bitcoin Minetrix presents a unique opportunity for investors seeking innovation and growth. The ongoing presale success of raising over $4.1 million, coupled with the project’s technological advancements and community support, positions Bitcoin Minetrix as a compelling investment choice.

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