Litecoin Price Prediction: LTC/USD May Consolidates Below $120 Level

Litecoin Price Prediction – April 7

The Litecoin price prediction is likely to set a bullish run as the market can attempt to climb back above to face the upside.

LTC/USD Market

Key Levels:

Resistance levels: $140, $150, $160

Support levels: $85, $75, $65

Litecoin Price Prediction

LTCUSD – Daily Chart

LTC/USD is moving towards the resistance level of $120 with a gain of 1.34% at the time of writing. However, the fact that the coin is experiencing a slight gain, the coin may begin to maintain a bullish movement within the channel if the Litecoin price cross above the 9-day and 21-day moving averages, it may likely gain higher levels.

Litecoin Price Prediction: Litecoin (LTC) May Shoot to the North

According to the daily chart, the Litecoin price hovers at $113.18. Crossing above the 9-day and 21-day moving averages could push the price to cross above the upper boundary of the channel. For the time being, traders mat experiencing a bullish movement, and as the technical indicator Relative Strength Index (14) discloses, the signal line is currently above the 40-level. Therefore, the potential resistance levels could be found at $140, $150, and $160 respectively.

At the time of writing, the Litecoin price is likely to move sideways in the short term, and any bearish movement towards the lower boundary of the channel may bring the coin to the long-term support levels of $85, and $75, and $65 respectively.

Against Bitcoin, the Litecoin price stays at the downside below the 9-day and 21-day moving averages. However, for a trend reversal, there is a need for an increasing volume and resistance to cause an upsurge within the market, if not, the market may move sideways. Now, Litecoin (LTC) is hovering at 2613 SAT, traders can expect close support at 2100 SAT and below.

LTCBTC – Daily Chart

However, if the buyers push the Litecoin price towards the upper boundary of the channel, it may likely hit the nearest resistance level at 3000 SAT. Moreover, crossing above the channel may hit the potential resistance at 3200 SAT and above but in the meantime, the technical indicator Relative Strength Index (14) is moving above the 40-level.

Looking to buy or trade Litecoin (LTC) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Comments are closed.