LTCUSD – Daily Chart<\/figcaption><\/figure>\nDespite an uptick in other cryptos, LTC\/USD is currently struggling to gather momentum above the $130 level. Meanwhile, a key level of support remains at $126, but if that breaks with a daily candle close below the level, it may likely slump below the lower boundary of the channel.<\/p>\n
What to Expect from Litecoin<\/strong><\/p>\nThe Litecoin price is currently trading below the 9-day and w1-day moving averages. However, if the market price crosses above the moving averages, it can enjoy a period of bullish momentum and it could target the $145 resistance level before potentially looking towards the resistance levels of $165, $175, and $185. Meanwhile, for that to happen, the coin would need a healthy injection of trade volume.<\/p>\n
Therefore, if Bitcoin (BTC) suffers a breakdown in price below $30,000, Litecoin may likely suffer a worse fate as it would confirm a downtrend with lower highs and lower lows. Should in case the price decides to stay below the channel, the coin may likely find the critical supports at $100, $90, and $80 as the technical indicator RSI (14) suggests a sideways movement.<\/p>\n
When compares with Bitcoin, the Litecoin price is currently following a bearish sentiment, trading under the 9-day and 21-day moving averages within the descending channel. However, if the bulls attempt to gain momentum, the bears are likely to keep releasing a huge pressure on the market as the technical indicator RSI (14) slides below 40-level, suggesting more bearish signals.<\/p>\n