LTC Price Prediction – April 6
LTC/USD receives a pat at the back with a gain of 6.29% in the last 24 hours.
Resistance levels: $250, $260, $270
Support levels: $200, $190, $180
LTC/USD moves to test the support of $213 after the market opens in the early hours of today. The Litecoin (LTC) is seen trying to cross above the upper boundary of the channel. Moreover, at the time of writing, the coin is posting gains of over 6.29% in the last 24 hours at a price of $235.36 while the signal line of RSI (14) focuses on the positive side.
What to Expect from Litecoin
According to the daily chart, the market is currently displaying a sign of subduing volatility with price ready to cross above the channel. However, taking a look at the daily chart, we can see that the trading volume is rising. Nevertheless, if the LTC/USD pair decides to stay under the control of the bulls, the price may roll to the nearest resistance at $250, $260, and $270 levels.
On the downside, the 9-day moving average is seen crossing above the 21-day moving average and any bearish movement below the moving averages may bring the market price to the support levels of $200, $190, and $180 respectively.
Against Bitcoin, the Litecoin price is now seen following the uptrend within the descending channel, especially since a few days ago. The coin is making an attempt to cross above the upper boundary of the channel and continued to rise through subsequent resistance level to 4100 SAT. The potential resistance level is located at the 4300 SAT and below.
However, if the bears manage to re-enter the market, traders may likely find the critical support level at 3400 SAT and below. Meanwhile, the Litecoin (LTC) is currently changing hands at 4031 SAT but another surge in volatility may occur as the RSI (14) moves into the overbought conditions suggesting more bullish signals in the nearest term.