LTC/USD May Drop Below $125 If Bears Reappear

LTCUSD 31032022

Litecoin Price Prediction – March 31

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

LTC/USD Market

Key Levels:

Resistance Levels: $160, $170, $180

Support Levels: $100, $90, $80

LTCUSD – Daily Chart

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

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

Litecoin price is moving below the upper limit of the channel, support is expected at $125 and $120 respectively. The Relative Strength Index (14) is currently sending out a sell signal aimed at moving below the 60 level, signaling the bearish outlook could strengthen. However, if the 21-day moving average applies to this chart and becomes the support area for this coin, the declines are unlikely to extend below $120.

Additionally, if the daily bearish candle closes below USD 150, there is a good chance that the price will reach the USD 160, USD 170 and USD 180 support levels. Meanwhile, if the Litecoin bulls push the price up to cross the channel, an increase in buy orders could create enough volume to support gains above $150. Any further bullish move could reach the $160, $170 and $180 resistance levels, respectively.

Compared to Bitcoin, traders can see Litecoin’s performance moving sideways. At the time of writing, the coin is crossing below the 9 and 21 day moving averages. Breaking this barrier could drag the market further towards the closest support levels at 2300 SAT and lower as the Relative Strength Index (14) moves below the 40 level; possible selling pressure is likely if it continues to fall.

LTCBTC – Daily Chart

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

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