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Litecoin Price Prediction: LTC/USD Bulls Look Forward to a Spike Above $40

LTC Price Prediction – March 30

Litecoin price remains in the strong hands of the bulls following a reversal from $36.96 to $38.93.

LTC/USD Market

Key Levels:

Resistance levels: $45, $47, $49

Support levels: $30, $28, $26

LTCUSD – Daily Chart

LTC/USD is just as bullish as the other major cryptocurrencies today. From an opening value of $36.96, LTC/USD has grown by 4.9% to trade at $38.93. The strongly bullish trend hints that buyers are just getting started. Looking at the daily chart, the Litecoin price is battling around the 9-day and 21-day moving averages. It is apparent that a break above this level could boost LTC/USD above the hurdle at $40. A step from the lower limit of the channel is likely to catapult Litecoin into a trajectory above $45.

The bullish action is supported by the RSI, after recovering from lows and as long as the RSI pushes towards 45-level, there is a possibility that $50 will only be stepping stone for the next rally eyeing $60. Meanwhile, initial support lies at $30, $28 and $26 levels. Moreover, if the bulls can put more effort and push the market towards the upper boundary of the channel, then the price may likely hit the resistance levels of $48, $50 and $52 respectively.

When compared with Bitcoin, LTC is following a downward trend, as the coin recently exploded under the solid support of 6100 SAT and continued to fall towards the 5900 SAT. The critical support level is located below the 9-day moving average at level 5600 SAT and below as the RSI (14) nosedives to 40-level.

LTCBTC – Daily Chart

However, any attempt by the bulls to re-power the market, the coin may cross the 21-day MA and above the upper limit of the channel to reach the resistance level at 6700 SAT and above. Meanwhile, the price of Litecoin is currently changing hands to 6072 SAT.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.