LTC/USD Bulls Could Eye $60 Resistance

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The Litecoin price prediction manages to maintain its position as the bulls maintain the desire to defend the support level of $51.

Litecoin Price Statistics Data:

  • Litecoin price now – $53.38
  • Litecoin market cap – $3.8 billion
  • Litecoin circulating supply – 71.4 million
  • Litecoin total supply – 84 million
  • Litecoin Coinmarketcap ranking – #20

LTC/USD Market

Key Levels:

Resistance levels: $60, $65, $70

Support levels: $45, $40, $35

After being locked below the 9-day and 21-day moving averages on the price charts for the past few days, LTC/USD undergoes a much-needed break to the positive side as the market opens today. The Litecoin price is seen posting gains of around 2.28% in the last 24 hours, trading above the 9-day and 21-day moving averages at $53.38 at the time of writing.

Litecoin Price Prediction: Would Litecoin (LTC) Bounce Back?

The Litecoin price is hovering above the 9-day and 21-day moving averages it is now roaming around the $53.38 level. In the meantime, if the market continues the upward movement, the $55 resistance level is likely to surface. However, the market is currently displaying a sign of subduing volatility with choppy price action.

Moreover, if the Litecoin price decides to stay under the control of bears, the price may roll back to the previous supports at $45, $40, and $35. But on the upside, traders can expect the next resistance levels at $60, $65, and $70. In addition, the technical indicator Relative Strength Index (14) is moving above the 50-level, which indicates that bulls are coming into play.

When compares with Bitcoin, the Litecoin price is looking for a positive direction above the 9-day and 21-day moving averages in other to reach the nearest resistance level at 2800 SAT.

LTCBTC – Daily Chart

However, sliding below the lower boundary of the channel could refresh lows under 2700 SAT and a possible bearish continuation may likely meet the critical support at 2500 SAT and below while the buyers may push the coin to the potential resistance level of 3000 SAT and above as the technical indicator Relative Strength Index (14) crosses above the 50-level, suggesting more bullish signals.

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