LTC/USD May Spike Towards $130 Resistance

Litecoin Price Prediction – March 26

The Litecoin price prediction manages to maintain its position as the bulls maintain the desire to push the coin above the channel.

LTC/USD Market

Key Levels:

Resistance levels: $150, $160, $170

Support levels: $90, $80, $70

LTC/USD undergoes a much-needed break to the positive side as the market opens today. The Litecoin price is currently posting gains of over 0.40% within the chart, with the coin aiming to cross above the upper boundary of the channel at $124.49.

Litecoin Price Prediction: Litecoin (LTC) Ready for The Upside

The Litecoin price resumes back in the middle of consolidation after a slight drop towards the 9-day and 21-day moving averages. In the meantime, if the market price continues the surge and moves toward the upper boundary of the channel, the $130 resistance level is likely to come to play and the Litecoin price may look for higher price levels if the bulls show commitment.

At the time of writing, the market displays a sign of subduing volatility with choppy price action. If the Litecoin price decides to stay under the control of bears, the price may roll back to the previous supports at $90, $80, and $70 below the moving averages. But on the upside, traders can expect the next levels of resistance at $150, $160, and $170. In addition, the technical indicator Relative Strength Index (14) is moving above 60-level, which indicates that bullish movement may play out.

Compared with Bitcoin, the Litecoin price is seen crossing below the 9-day moving average in other to reach the nearest support at 2700 SAT. Unless the coin crosses above the upper boundary of the channel, and the price ends up closing above it, there might not be any reason to expect the long-term bullish reversal.

However, crossing below the moving averages could refresh lows under 2500 SAT, and a possible bearish continuation may likely meet the critical support at 2300 SAT and below while the buyers may push the coin to the potential resistance level of 3300 SAT and above as the technical indicator Relative Strength index (14) remains above 50-level, suggesting more bullish signals.

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