LTC Price Prediction – April 20
The price of Litecoin surges from $43.47 to $40.09 within a day but it may move past this level in the coming days.
Resistance levels: $50, $60, $70
Support levels: $32, $22, $12
LTC/USD saw a heavy price decline today and it is currently trading at $40.61. The cryptocurrency continues to be supported at the $37 level but it seems that the bears are adamant to push the coin lower. More so, Litecoin has already lost over 3.90% within 24 hours and it’s likely the market experience more loses as the technical indicator moves towards the south at the time of writing.
Furthermore, since yesterday, the Litecoin (LTC) price keeps following the downward trend within the channel formation. Today, after the opening of the market, the daily price chart shows that LTC/USD also fell from $43.47 to $40.09, where it found short-term support and later bounced up to $40.61, where it is currently trading.
Moreover, for a backward movement, the market can be supported at $32 and $22 levels, if the price falls below the previous levels; another support is around $12. But should in case the price exceeds the indicated level by moving upward, then, the resistance levels of $50, $60 and $70 may be visited. The RSI (14) nosedives below 45-level, which may likely give more bearish signals.
Against Bitcoin, the Litecoin price is still moving downward as the price broke down after touching 5995 SAT. The price started falling and the RSI (14) indicator nosedives to touch 40-level, which might be considered as more bearish signs for the market.
Moreover, the market may continue to decline if the sellers continue to put more pressure on the buyers, the price could come down to the support levels of 5500 SAT and 5400 SAT. Therefore, if there is a rebound, the Ethereum price may likely go up as high as 6300 SAT and 6400 SAT respectively.
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