LTC/USD May Fall Below $125 If Bears Resurface

Litecoin Price Prediction – March 31

Looking at the daily chart, traders can see that the Litecoin price is ready for a short-entry level near the $128 level.

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LTC/USD Market

Key Levels:

Resistance levels: $160, $170, $180

Support levels: $100, $90, $80

Litecoin Price Prediction
LTCUSD – Daily Chart

At the time of writing, LTC/USD is likely to cross below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) slides below 65-level. Meanwhile, a decreasing volume index also suggests a breakdown, but a death cross is likely to come into the picture if the red line of the 9-day moving average crosses below the green line of the 21-day moving average in the daily chart.

Litecoin Price Prediction: Litecoin (LTC) Ready to Drop More

The Litecoin price is moving below the upper boundary of the channel, supports are expected at $125 and $120 respectively. The Relative Strength Index (14) is currently flashing a sell signal aiming to cross below the 60-level which may be adding weight to the bearish outlook. However, if the 21-day moving average applied to this chart, turned into the support area for this coin, then, the declines are unlikely to extend below $120.

Moreover, should in case the daily bearish candle closes below $150, there is a high probability that the price may reach the support levels of $160, $170, and $180. Meanwhile, if the Litecoin bulls push the price to cross the channel, an increase in buy orders might create enough volume to support gains beyond $150. Any further bullish movement may reach the resistance levels of $160, $170, and $180 respectively.

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When compared with Bitcoin, traders can see that Litecoin’s performance has been moving sideways. At the time of writing, the coin is crossing below the 9-day and 21-day moving averages. Breaking this barrier could further drag the market to the nearest support levels at 2300 SAT and below as the Relative Strength Index (14) moves to cross below the 40-level; possible selling pressure is likely if it continues to drop.

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LTCBTC – Daily Chart

However, LTC/BTC is currently changing hands at 2697 SAT but if the bulls can hold the price tight and push it above the upper boundary of the channel, the next key resistance could be at 3000 SAT and 3100 SAT respectively. Reaching these levels might move it to the potential resistance at 3200 SAT and above.

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