Litecoin Price Prediction – March 16
The Litecoin price prediction shows that LTC trades above the moving averages as the coin heads to a resistance level of $120 level.
LTC/USD Market
Key Levels:
Resistance levels: $140, $150, $160
Support levels: $80, $70, $60
LTC/USD crosses above the 21-day moving average with a gain of 1.88% and the candle formations are likely to respect the upward movement but crossing below the moving averages might position the market price in a decline. Meanwhile, the closest support level could be located around the $100 level while a north wave might see a high movement to cross above the upper boundary of the channel.
Litecoin Price Prediction: Litecoin (LTC) Ready for The Upside
According to the daily chart, the Litecoin price is creating a bullish movement as the coin touches the daily high at $111.93. However, an increase above the daily high may bring the coin to the nearest resistance level of $120 before locating the potential resistance levels at $140, $150, and $160. On the contrary, the Litecoin price may likely hold a support level at $105 which is the current daily low. Therefore, if the Litecoin price drops below this support level, it may likely hit the closest support at $90.
Meanwhile, the next support after this may be found at $80, $70, and $60 if the selling volume increases. More so, the technical indicator Relative Strength Index (14) reveals that the market may likely cross above 50-level if the signal line keeps pointing to the north.
Against Bitcoin, the sellers are attempting to step back into the market while the coin remains above the 9-day and 21-day moving averages. Meanwhile, from the upside, the nearest resistance level could be found at 3200 SAT and above as the technical indicator Relative Strength Index (14) stays below 50-level.
From below, the nearest support level could be seen at 2500 SAT but if the price drops further below this level, lower support could be found at 2200 SAT and below. In addition, the 9-day MA is still very close to the 21-day MA, which shows that the market may soon choose the direction it will follow.
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Source: https://insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-gets-ready-for-a-spike-above-120-level