LTC/USD Drops to Retest $121 Support
Litecoin Price Prediction – March 25
According to the daily chart, the Litecoin price prediction may be looking for support at $120 where the market is likely to provide a rebound.
LTC/USD Market
Key Levels:
Resistance levels: $150, $160, $170
Support levels: $90, $80, $70
For the past few days, the daily movement of LTC/USD has been impressive as the coin moves tremendously above the 9-day and 21-day moving averages. Therefore, if Litecoin (LTC) improves in the last hours of the day, the intraday traders may expect a positive close above the opening price of $126 level. At the time of writing, the technical indicators within the channel are focusing on the upside, indicating more bullish movements for the coin.
Litecoin Price Prediction: Where is the Litecoin Price Going Next?
The daily chart reveals that the Litecoin price may begin to experience a downtrend if the coin falls beneath the support at the $120 level. Therefore, traders can expect additional support at $110 and then followed with added critical supports at $90, $80, and $70 below the 9-day and 21-day moving averages.
On the upside, if the bulls step back into the market, LTC/USD may hit the nearest resistance at $130 and $140 which is above the upper boundary of the channel, higher resistance levels may be located at $150, $160, and $170. However, the signal line of Relative Strength Index (14) moves to cross below 60-level which reveals that sellers may come back into the market.
Against Bitcoin, the daily chart reveals that LTC is sliding below the opening price of 2875 SAT. However, the sellers are seen posing more threat to the nearest support level of 2800 SAT. Meanwhile, an eventual break below the 9-day and 21-day moving averages may likely lead to the collapse of the coin.
However, as the technical indicator Relative Strength Index (14) nosedives below 50-level, any further bearish continuation could hit the major support at 2500 SAT before falling to 2300 SAT and below. But if the buyers could return the price above the upper boundary of the channel, LTC/BTC may likely hit the potential resistance at 3300 SAT and above.
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