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Litecoin Price Prediction: LTC/USD Bulls May Spike Above $45 as the Price Touches $44

LTC Price Prediction – April 23

Litecoin price remains in the strong hands of the bulls following a reversal from $40.80 to $43.96.

LTC/USD Market

Key Levels:

Resistance levels: $50, $52, $54

Support levels: $34, $32, $30

LTCUSD – Daily Chart

LTC/USD is just as bullish as the other major cryptocurrencies today. From an opening value of $41.59, the coin reversed a little bit to touch a $40.80 level. At the moment, LTC/USD has grown by 3.2% to trade at $43.96. The strongly bullish trend hints that buyers are just getting started. Looking at the daily chart, the Litecoin price has already crossed above the 9-day and 21-day moving averages.

However, the bullish action is supported by the technical indicator as the RSI (14) pushes towards 54-level, there is a possibility that $45 will only be stepping stone for the next rally eyeing $50. Meanwhile, initial support lies at $34, $32 and $30 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 at $50, $52 and $54 levels.

When compared with Bitcoin, LTC is following a downward trend, as the coin recently exploded under the solid support of 5800 SAT and continued to fall below the 5700 SAT. The critical support level is located below the 9-day and 21-day moving averages at level 5300 SAT and below as the RSI (14) nosedives to 40-level.

LTCBTC – Daily Chart

Furthermore, any attempt by the buyers to re-power the market, the coin may likely cross above the moving averages to break out of the channel in order to reach the nearest resistance level at 6300 SAT and above. Meanwhile, the Litecoin price is currently changing hands to 5748 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.