Litecoin (LTCUSD) Price Forecast: November 25
LTCUSD is actually making positive moves and also rising against downward forces as the bulls remain dominant in the crypto market. Thus, a sharp breakout and closure above the $114.01 previous high value will invalidate any bearish thesis and the price might hit the high of $120.00 upper level and beyond resulting in an intraday profit for the coin traders.
Key Levels:
Resistance Levels: $78.00, $79.00, $80.00
Support Levels: $75.00, $74.00, $73.00
LTC (USD) Long-term Trend: Bullish (Daily Chart)
Litecoin price is rising against downward forces and remains bullish in its long–term outlook. This is clear as we can see the prices trading slightly above the EMA-9.
The sustained bullish pressure pushed the currency pair up to the $69.15 supply level during yesterday’s session and sustained it. This has made it easier for the coin to remain in an uptrend in its recent high.
The price responded to the shift in the market structure and is currently trading at the $70.75 high mark slightly above the EMA-50 as the daily chart opens today. This is a result of more concerns from the buy investors.
This bullish reversal pattern could assist the coin buyers to challenge the $114.01 neckline which could further disengage the bears from coming up again.
Meanwhile, the momentum indicator which is pointing up indicates that the price of LTCUSD is in an uptrend and may possibly remain in that direction to hit the $120.00 supply level and beyond as soon as the coin continues rising against the downward forces in the higher time frame.
LTC (USD) Medium-term Trend: Bearish (4H Chart)
The Litecoin price is forming lower lows and lower highs on its medium-term chart. Further, the price is trading below the EMA-50 which means that it’s in a bearish market zone at the moment.
The bears’ pressure on the crypto in the past few hours has dropped the price down below the supply trend levels in its recent low.
The bulls made a pullback at a $69.51 supply trend line below the moving averages shortly after the 4-hour session opened today. This will enable buyers to influence the price tendency.
Should the bulls increase their pressure, the resistance level of $27.88 may not hold and it may extend to a $120.00 high level and beyond.
Further, the market price of Litecoin may continue rising against the downward forces as indicated by the daily signal which is now pointing up. The emergence of buyers is crucial at this moment. Hence, the bulls are expected to push up the coin price and may likely reach the $120.00 supply value in the days ahead in its medium-term outlook.
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