Litecoin Price Prediction – April 4
The Litecoin price prediction shows that LTC faces a sharp decline with a loss of 3.55% heading towards the 21-day moving average.
LTC/USD Market
Key Levels:
Resistance levels: $160, $170, $180
Support levels: $100, $90, $80
LTC/USD is facing a downtrend as the coin begins to drop towards the 21-day moving average. However, the Litecoin price couldn’t break above the resistance level of $128 as it’s been restricted from crossing the upper boundary of the channel. More so, the buyers may need to keep the price movement above the 9-day and 21-day moving averages so as a clear break of the channel may take the coin up to the nearest resistance level of $130 level.
Litecoin Price Prediction: Litecoin (LTC) May Cross Below 21-day MA
The Litecoin price may continue to experience a downtrend if the nearest support of $120 gives way. However, sellers may be more dominant if the bears continue to post firm commitment as the technical indicator Relative Strength index (14) shows a slight downtrend on the chart.
Nonetheless, traders could see a sharp drop below the moving averages if the market price drops more; breaking this barrier could further weaken the market to hit the supports at $100, $90, and $80. Therefore, if the buyers manage to fuel the market, traders may expect a further increase above the upper boundary of the channel which could locate the resistance levels of $160, $170, and $180 respectively.
Against BTC, the Litecoin price is operating below the 9-day and 21-day moving averages. However, if the bearish movement continues, the support level of 2500 SAT is expected to be visited; more so, there might be a reason to expect the long-term bearish reversal as the 9-day MA moves to cross below the 21-day MA.
In other words, if the Litecoin price crosses above the upper boundary of the channel, it could refresh highs above 2800 SAT, and a possible bullish continuation may likely meet the major resistance at 3000 SAT before falling to 3200 SAT and above while the sellers may bring the coin to the critical support at 2300 SAT and below if the bears successfully bring the coin towards the lower boundary of the channel. Meanwhile, to confirm the bearish movement, the technical indicator Relative Strength Index (14) moves to cross below the 40-level to give more bearish signals.
Looking to buy or trade Litecoin (LTC) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link
