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Litecoin (LTC) Price Analysis: Break Above $150 Seems Imminent

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  • Litecoin price started a strong rise after forming a support base near the $110.00 level against the US Dollar.
  • LTC price gained bullish momentum after it broke the key $122.00 resistance area.
  • There is a major bullish trend line forming with support at $126.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair is likely to break the $145.00 and $150.00 resistance levels to trade towards $160.00.

Litecoin price traded to a new monthly high above $140.00 against the US Dollar, and rallied vs bitcoin. LTC price is placed in an uptrend and it is likely to accelerate above $150.00 in the coming sessions.

Litecoin Price Analysis

Recently, litecoin price found a strong buying interest above $110.00 against the US Dollar. The LTC/USD pair formed a swing low near $111.59 and recently started a strong rally. It broke the $115.00 and $120.00 resistance levels to move into a positive zone. Moreover, the price settled above $120.00 and the simple moving average (4-hours). The bulls gained momentum after it broke the key $122.00 resistance area.

As a result, the price surged higher above the $130.00 and $140.00 levels. It even broke the $142.00 level and traded to a new monthly high at $144.36. Recently, it started a downside correction below the $140.00 level. The price traded below the 23.6% Fib retracement level of the upward move from the $111.59 low to $144.36 high.

However, there are many supports on the downside near $132.00 and $130.00. The next main support is near the $128.50 level. It coincides with the 50% Fib retracement level of the upward move from the $111.59 low to $144.36 high. Moreover, there is a major bullish trend line forming with support at $126.00 on the 4-hours chart of the LTC/USD pair.

Finally, the 61.8% Fib retracement level of the upward move from the $111.59 low to $144.36 high is near the $124.11 level. To move into a bearish zone, the price must settle below $120.00. On the upside, an initial resistance is near the $142.00 and $144.00 levels. If there is an upside break above $144.00, the price is likely to accelerate above the $150.00 barrier.

Litecoin Price Analysis LTC Chart

Looking at the chart, litecoin price is clearly trading in a strong uptrend above the $130.00 and $122.00 support levels. Therefore, there are high chances of more gains above the $144.00 and $150.00 levels in the coming sessions.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly losing momentum in the bullish zone, but there are still positive signs.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently correcting towards the 55 level.

Key Support Levels – $126.00 and $122.00.

Key Resistance Levels – $144.00 and $150.00.

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Litecoin Forecast and Analysis September 16 — 20, 2019

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Litecoin LTC/USD ends the trading week at 68.42 and continues to move as part of the decline and the beginning of the development of the «Head and Shoulders» reversal pattern. Moving averages indicate the presence of a lateral trend, which will soon change in favor of a downtrend. At the moment, we should expect an attempt to develop a correction and test the resistance area near the level of 75.00. Where again we should expect a rebound and an attempt to continue the decline in Litecoin with a potential target below the level of 45.05.

Litecoin Forecast and Analysis September 16 — 20, 2019

An additional signal in favor of a drop in LTC/USD quotes in the current trading week September 16 — 20, 2019 will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the broken line of the «Neckline» of the «Head and Shoulders» reversal pattern. Cancellation of the Litecoin fall option will be a strong growth and a breakdown of the area of ​​110.00. This will indicate a breakdown of the resistance area and continued growth of LTC/USD. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 55.00.

Litecoin Forecast and Analysis September 16 — 20, 2019

Litecoin Forecast and Analysis September 16 — 20, 2019 suggests an attempt to test the resistance area near the level of 75.00. Then, the continuation of the fall to the area below the level of 45.05. An additional signal in favor of the fall of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of ​​110.00. This will indicate a continued rise in the cryptocurrency with a target above the level of 145.00.

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Litecoin (LTC/USD) forecast and analysis on September 16, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 70.48. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

As part of the Litecoin course forecast, a test level of 69.20 is expected. Where should we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 74.80. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 67.80.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​65.40. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019 implies a test level of 69.20. Further growth is expected to continue to the area above the level of 74.80. The conservative area for buying Litecoin is located area of 67.80. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 65.40. In this case, we should expect the continuation of the fall.

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Litecoin Price Analysis and Prediction for September 16th 2019 – Can LTC Hit $100?

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It seems like the cryptocurrency market is slowly waking up as the new week begins. Bitcoin continues to trade sideways while some cryptos are making small steps upwards, registering single digit percent gains. Litecoin made a nice recovery after this weekend’s slump and is currently trading at $71.23 on Bitfinex. Let’s take a look at any relevant Litecoin news that may affect the market and see if the charts tell us what’s in store for LTC.

cmc top10
Source: Coinmarketcap

Litecoin News

While not necessarily news, there is a big event coming up for Litecoin in Last Vegas. Dubbed Litecoin Summit, the event is planned to be held in The Cosmopolitan in Last Vegas on October 28th-29th. I will definitely be there, so if you are planning to attend make sure to connect with me on telegram (@Arginmark) so we can network!

On another note, such a big event is sure to bring bullish momentum to the cryptocurrency as it’s a common trend for a conference to boost interest in the market.

When it comes to current events, there are no big developments for Litecoin as of right now.

Litecoin Price Analysis

litecoin price chart 9/16/19
Source: @NullTX from Tradingview

Relative Strength Index: The RSI is currently at a healthy 51 points and rising. We caught LTC/USD right at the rebound after it retraced down to $71.1.

Bollinger Bands: Litecoin is currently within range of the two bands after briefly dropping below the lower band an hour ago.

Volume: Unfortunately, the volume is extremely low right now which is surprising given that it’s the start of a new week where markets are usually more active. However, volume can go from 0-100 extremely quickly if the market start swaying to either side.

Litecoin Price Prediction

The RSI and Bollinger Bands are both indicating that LTC/USD will trade sideways. Litecoin’s volume reinforces the sideways market because of how low it is.

My short term prediction is that Litecoin will stay above the $71 level at least for the first half of the week. As the news about Litecoin summit spread, I believe it will have a bullish impact on the market and we just may see a $100 Litecoin by the end of October.

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