LTC Price Prediction – March 26
Litecoin price is trading in positive territory with 0.61% gains and running towards another green day.
Resistance levels: $48, $50, $52
Support levels: $30, $28, $26
For the past few days, LTC/USD has seen a decent price bumps from $39 to $40 resistance level, making it one of the best performing coin in the top 10. LTC/USD is currently trading at around $39.49. Although, the Litecoin price action is showing a better sign of upside momentum, as it seems to reclaim back the $44 level.
Nonetheless, the buyers are making a good way to push in order to escape a bearish technical set up. For now, the recent price hike seen today may allow LTC to break above the 9-day and 21-day moving averages and also a long-term ascending trend line which is a good sign for the bulls. However, if the bulls continue to move above $39, the next level of significant resistance lies at $43.
Above this level, we can expect higher resistance at $48, $50 and $52 while the support can be found at $30, $28 and $26. Meanwhile, the technical indicator RSI (140 is moving slowly in the same direction above the 40-level, which indicates that the market may experience a sideways movement.
When compared with Bitcoin, LTC is experiencing some difficulties, as the coin recently exploded under the solid support of 6000 SAT and continued to fall towards the 5800 SAT. The critical support level is located below the 9-day moving average at level 5300 SAT and below.
However, any attempt by the bulls to re-power the market, the coin can likely cross above the 9-day and 21-day moving averages to find the resistance level at 6500 SAT and above. Meanwhile, the price of Litecoin is currently changing hands to 5906 SAT and a spike in volatility could occur as the RSI (14) is moving around the 33-level.
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