Litecoin Price Prediction: LTC/USD Get Ready for $40, After Defending $30 Crucial Support

LTC Price Prediction – March 17

The Litecoin price may continue to settle in a range between $29 and $39 as the RSI (14) moves in the same direction above the oversold zone.

LTC/USD Market

Key Levels:

Resistance levels: $52, $54, $56

Support levels: $14, $12, $10

LTCUSD – Daily Chart

LTC/USD is still moving in sideways around the lower boundary of the Bollinger bands within the descending channel. In fact, the cryptocurrency is trading in its tightest four days trading band after the bears took over from the bulls. Today, an early trading session towards the $40 level failed to generate sustainable gains, with the LTC/USD pair slipping back under the $35 level.

However, the longer the pair fails to rally from current trading levels, the greater the chance that we may see the cryptocurrency falling below the 9-day moving average. A break below the $30 support level may provoke an even deeper decline towards the $14, $12 and $10 levels. Nonetheless, the short-term technical analysis reveals that the $20 and $25 levels are currently the strongest forms of technical support before the $30 level starts to come back into focus.

Moreover, the daily chart reveals that the LTC/USD needs to break the technical region of the $45 level which is above the 9-day moving average, so that the coin may likely reach the resistance levels of $52, $54 and $56. Meanwhile, the technical indicator RSI (14) is moving in the same direction above the oversold zone, which shows that the market is indecisive at the moment.

Against Bitcoin, LTC is still experiencing some difficulties, the coin recently exploded above the solid resistance of 6900 SAT and continued to fall towards the 6442 SAT. The critical support level is located below the 9-day moving average at level 6000 SAT and below.

LTCBTC – Daily Chart

However, any attempt by the bulls to re-power the market, the coin may likely find the resistance level at 7100 SAT and above. Meanwhile, the price of Litecoin is currently changing hands at 6527 SAT and a spike in volatility could occur as the technical indicator RSI (14) moves below 45-level.

Please note: 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.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      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.