Litecoin Price Prediction – April 2
The Litecoin price prediction may need to stage a meaningful short-term rally for the coin to see a rise above the $130 level.
LTC/USD Market
Key Levels:
Resistance levels: $160, $170, $180
Support levels: $100, $90, $80
LTC/USD is seen moving in a narrow trading range after a bullish rally failed to materialize. The early daily rally towards the $130 level failed to generate sustainable gains, with LTC/USD slowly climbing towards the $125 resistance level. However, the longer that the Litecoin price fails to rally from current trading levels, the greater the chance that we may see the coin falling to a new monthly trading low.
Litecoin Price Prediction: Litecoin (LTC) May Head to the Upside
The Litecoin price is likely to cross above the 9-day moving average, but the longer the coin fails to rally from current trading levels, the greater the chance that traders may see the coin falling. A break below the 21-day moving average may bring a deeper decline towards the support levels of $100, $90, and $80. The technical indicator Relative Strength Index (14) is likely to cross above 60-level, suggesting bullish movement for the market.
However, the daily chart highlights that LTC/USD bulls need to re-group and energized the market by pushing the price above the moving averages. However, any further bullish movements could locate the resistance levels of $160, $170, and $180, and a move above these levels may encourage further Litecoin buying.
When compared with BTC, Litecoin (LTC) is moving in sideways below the 9-day and 21-day moving averages. The Litecoin price is likely to follow the upward movement if the bulls push the coin above the upper boundary of the channel.
However, as the technical indicator, Relative Strength Index (14) implies, the signal line is likely to cross above 50-level with a possible break above the 9-day and 21-day moving averages. However, any further bullish movement could lead to the resistance level of 3200 SAT and above. On the contrary, falling towards the lower boundary of the channel may hit the support level of 2300 SAT and below.
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