Litecoin Price Prediction: LTC Price Oversold; Time to Invest?

• 1 Litecoin price prediction suggests a pullback rally is possible in the coming months.
• 2 LTC price is getting ready for the upward range expansion.
• 3 Litecoin crypto price struggles to climb above the 50-day EMA.

Litecoin price prediction is bullish for the next month till it trades above the $56.00 level. LTC price seems to be stuck in the narrow range between $56.00 to $70.00. It consolidated for a long time and formed a long-term base.

Litecoin crypto price trying to climb above the 50-day EMA to reverse the short-term trend. If they succeed, then the probability of the upward range expansion will increase.

LTC price tried multiple times to break the $70.00 hurdle but got rejected. It shows the presence of sellers on the higher levels. However, the buyers are also active near the $56.00 level, successfully defending the support.

If in the coming months, the BTC and ETH price recovers then it may positively affect the LTC price and many other coins. At present, fresh buyers are not active so the volatility seems quite low.

The next direction of LTC will be visible only after the breakout of either side of the range.

Litecoin price is trading at $60.50 with an intraday rise of 0.45%. The 24-hour volume to market cap is 4.37%. The pair of Litecoin with BTC is trading at $0.002145 with an intraday rise of 0.89%.

Litecoin Price Looks Cheap; Good Time To Accumulate?

LTC/USDT daily chart by Tradingview

Litecoin price prediction suggests bulls are preparing for the rally and base formation will end soon.

Till the LTC price sustains above $56.00, the buyers will remain active, and minor downfall will be easily absorbed. However, if the LTC crypto price drops below $56.00, then sellers may take control and pull the price towards $50.00.

On the other hand, if fresh buyers begin to add up LTC in their portfolio or existing investors begin to accumulate. Then, the price will begin the journey to reach $80.00.

LTC Price Needs Whales Participation

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LTC price formed a bearish inverted hammer candle on the weekly time frame. It shows that it will be not easy for bulls to break the higher range hurdle without whales’ participation.

The MACD curve in Litecoin crypto sloping sideways indicating prices may continue the consolidation for a few more weeks. The RSI at 40 denotes weakness but if the price recovers, then RSI will test the neutral zone.

The supertrend tells another story which says till the LTC price holds $60.17, the short-term trend is upward.

Conclusion

Litecoin price prediction stays bullish for November 2023. The LTC crypto needs whales’ participation for the breakout of the $70.00 hurdle.

The technical analysis suggests that the LTC price is at attractive levels and looks good for long-term investment.

Technical Levels

• Resistance levels: $70.74 and $80.00
• Support levels: $56.28 and $47.92

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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