Litecoin (LTC/USD) Market Point Hovers at $160
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Litecoin Price Prediction – August 13
There has been a gradual increase in the LTC/USD’s valuation as the market point hovers around the level at $160. In the recent past, the crypto was struggling to push upward around $140. As of writing, the trading rate of the crypto economy is seen at around 1.15% increases.
LTC/USD Market
Key Levels:
Resistance levels: $200, $240, $280
Support levels: $140, $120, $100
LTC/USD – Daily Chart
The LTC/USD daily chart pictures that the crypto market point hovers around the level of $160 presently, having had tougher sessions around $150 trading line. The 14-day SMA trend-line has curved northward to touch the line at $150 near beneath the 50-day SMA trend-line. The bearish trend-line drew southward to touch the bigger SMA at the buy signal side. The Stochastic Oscillators are somewhat erratically consolidating in the overbought region to signify a difficult projectable trading situation of the crypto economy.
How soon could there be a change in the current price direction as the market points hovers around $160?
Emergence of an aggressive motion needed to take place either upwardly or downwardly before a definite change of price direction can be obtained as the LTC/USD market point hovers now at a higher line around $160. A sudden price movement against the trend-line of the 14-day SMA may allow some of the subsequent trading days witness some degrees of downs possibly in smaller proportion to see through some lower trading lines. The points between $150 and $100 have to be the resort to expect price to spring up either in the short, medium or long term.
On the downside, the LTC/USD bears must hold stronger against any probable price upsurge around the mid-point of $150 and $200. Going by the readings of the Stochastic Oscillators, the crypto market appears to face tougher striding situations especially if price is strongly resisted around the immediate resistance level at $200. On the contrary, a sustainable breakup at that level will most likely propel the market to more higher values afterward.
LTC/BTC Price Analysis
In comparison, Litecoin has been able to pull much trending capacity against Bitcoin. Even there has been a sign of trade capacity rallying in the LTC/BTC price. Yet, the base crypto outweighed by the flagship counter crypto. The 50-day SMA indicator stays above the 14-day SMA indicator to affirm that the trending weight favors the base trading instrument. The Stochastic Oscillators are in the overbought region, suggesting that LTC may for a while remains outweighed in trending by BTC.
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