Litecoin (LTC) Price Analysis – January 15
Litecoin adds 0.87% in a day, and it is now being traded around $58.91. The next major resistance is likely to come at $65.
Resistance levels: $65, $70, $75
Support levels: $50, $45, $40
LTC/USD has been able to fetch a decent hike in the last 48 hours that took the coin from $49.40 to touched $60.72. LTC/USD is already on a path of price recovery after the previous week’s unprecedented slowdown. Litecoin is one of the most emerging coins of the market, and it is likely to touch $65 in the coming days as its next resistance.
However, as the trading volume keeps increasing, the coin is moving within the ascending channel and above the 9-day and 21-day moving averages, it could exceed the resistance levels of $65, $70 and $75 before the end of the month if the bulls put more effort. Nevertheless, the RSI (14) is within the overbought territory but the bears could step back into the market once the signal line of the indicator turns downward and the nearest support levels are found at $50, $45 and $40 respectively.
When compared with BTC, the daily chart has shown that the bulls are dominating the market with a heavy upsurge as the price moves above the 9-day and 21-day moving averages. Meanwhile, if the bulls can push the price above the channel, the key resistance levels lie at 0.0068 BTC and 0.0070 BTC. More so, a further movement may push the price to 0.0071 BTC and above.
Moreover, for a reverse move, the 0.0065 BTC support is likely to resurface and if the 0.0066 BTC could not hold the reversal, the price may further drop to 0.0064 BTC, 0.0062 BTC, and 0.0060 BTC support levels. The RSI (14) moves into the overbought zone, which could bring more bullish signals.
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