LTC/USD Ready to Reclaim $150

Despite the rapid decline early this month, the Litecoin price prediction shows that the short-term bullish structure for the coin is still intact.

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LTC/USD Market
Key Levels:

Resistance levels: $175, $195, $215

Support levels: $110, $90, $70

Litecoin Price Prediction
LTCUSD – Daily Chart
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LTC/USD is still moving sideways around the 9-day moving average within the channel. However, the Litecoin price is currently hovering at $139.98 after the bears took over from the bulls early this month. Today, an early trading session towards the $150 level failed to generate sustainable gains, with the Litecoin price slipping back below the daily high at the $141.41 level.

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Litecoin Price Prediction: Litecoin (LTC) Not Ready for Uptrend
According to the daily chart, the longer the pair fails to rally from current trading levels, the greater the chance that we may see the cryptocurrency falling below the 9-day moving average. A break below the $135 support level may provoke the Litecoin price to decline towards the $110, $90, and $70 support levels.

However, the current market movement reveals that the Litecoin price may continue the bullish movement if the 9-day MA crosses above the 21-day MA. Meanwhile, the daily chart reveals that LTC/USD needs to break the technical region of the $150 level which is above the upper boundary of the channel which may cause the coin to reach the potential resistance levels of $175, $195, and $215. Nevertheless, the technical indicator Relative Strength Index (14) is moving above 40-level, which shows that the market may follow an uptrend.

Against Bitcoin, the Litecoin price is currently facing the downside. The market price is seen within the 9-day and 21-day moving averages. However, the bullish structure may not come to play now but the price has been following a descending support line since a couple of days ago.

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LTCBTC – Daily Chart
Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross below 40-level, which may add more bearish signals into the market. Therefore, until the price either break out above the resistance level or break down below the 9-day MA, the direction of the trend is yet to be known. Moreover, if the coin breaks above the upper boundary of the channel, it coin reaches the potential resistance level of 4500 SAT and above while the supports remain at 3700 SAT and below.

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Weekly Walmart shoppers (21% yes/78% no) and weekly Amazon shoppers (29% yes/69% no) were more likely to invest in altcoins compared to those that never shop at the mega-retailers (8% yes/87% no and 3% yes/93% no, respectively). Not surprisingly, urban men (32% yes/65% no) were more than two times more likely, respectively, to purchase cryptocurrencies than their male and female counterparts-suburban men (12% yes/86% no), suburban women (3% yes/95% no), rural women (4% yes/92% no), and rural men (10% yes/89% no).

Cryptocurrencies are more than a fad! Even after the beating they have taken in the last month (we have been down this road before in the last few years) and the threat of SEC and IRS intervention, cryptocurrencies, such as, Bitcoin, Ethereum and even Dogecoin are bigger in value than some of the most recognized companies listed on the S&P 500. The blockchain technology and DeFi network that will be adopted by companies and individuals to create more secure, efficient, and faster transactions and contracts will change the world, no doubt. The big question is if the first examples (Bitcoin, Ripple, Ethereum, etc.) of this new technology will end up like Beenie Babies or become the new gold-a true store of value and counter to price inflation?

Zogby Analytics Poll Methodology
US Likely Voters
1/18/21 – 1/19/21

Zogby Analytics conducted an online survey of 873 likely voters in the US.

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Using internal and trusted interactive partner resources, thousands of adults were randomly invited to participate in this interactive survey. Each invitation is password coded and secure so that one respondent can only access the survey one time.

Using information based on census data, voter registration figures, CIA fact books and exit polls, we use complex weighting techniques to best represent the demographics of the population being surveyed. Weighted variables may include age, race, gender, region, party, education, and religion. The party breakdown for this survey is as follows: 37% Democrat, 35% Republican and 28% Independent/unaffiliated.

Based on a confidence interval of 95%, the margin of error for 873 is +/- 3.3 percentage points. This means that all other things being equal, the identical survey repeated will have results within the margin of error 95 times out of 100.

Subsets of the data have a larger margin of error than the whole data set. As a rule we do not rely on the validity of very small subsets of the data especially sets smaller than 50-75 respondents. At that subset we can make estimations based on the data, but in these cases the data is more qualitative than quantitative.