Litecoin Price Prediction – April 9
The Litecoin price is currently changing hands at $112.13 as the technical indicator Relative Strength Index (14) stays above the 40-level.
LTC/USD Market
Key Levels:
Resistance levels: $130, $135, $140
Support levels: $95, $90, $85
LTC/USD is trading around $112, and once it manages to surpass the potential resistance of $115, the next target is located at $120 where it could trade above the 9-day and 21-day moving averages. However, a push from here could send the price straight to around $125, but if the current level fails to hold strong, the Litecoin (LTC) could slip below the support level of $110.
Litecoin Price Prediction: Is Litecoin Ready for the Upside?
Looking at the daily chart, the Litecoin bulls are coming back into the market, if the buyers put more effort and push the Litecoin price above the moving averages, LTC/USD may likely hit the resistance levels of $130, $135, and $140 respectively. In addition, any bullish movement above these key resistance levels may likely encourage further buying.
Moreover, any bearish movement towards the lower boundary of the channel may decline towards the critical supports at $95, $90, and $85. Meanwhile, looking at the technical indicator Relative Strength Index (14), Litecoin may exhibit the tendencies to follow an upward trend as the coin moves above the 40-level, suggesting that the market may remain stable at the average.
When compared with Bitcoin, the Litecoin price is attempting to cross above the 9-day moving average which could hit the nearest resistance at 2800 SAT. Therefore, unless this resistance effectively holds and the price ends up closing above it, there might not be any reason to expect a long-term bullish reversal.
However, any bearish movement towards the lower boundary of the channel could refresh lows under 2200 SAT as a possible bearish continuation may likely meet the major support at 2100 SAT and below. The buyers may push the coin to the potential resistance at 3200 SAT and above. More so, the technical indicator Relative Strength Index (14) is ready to cross above 50-level, suggesting more bullish signals.
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