Litecoin Price Prediction: LTC/USD Gets Ready for $50, After Defending $45 Crucial Support
LTC/USD is still moving in sideways around the 9-day and 21-day moving averages within the channel. However, the longer the pair fails to rally from current trading levels, the greater the chance that we may see the cryptocurrency falling below the 9-day moving average.
Moreover, the daily chart reveals that LTC/USD needs to break the technical region of the $50 level which is above the moving averages for the coin to reach the resistance levels at $52, $54, and $56. Against Bitcoin, the market is still following a sideways movement trading above the 9-day and 21-day moving averages around the upper boundary of the channel as the sellers and buyers are trying to decide who will control the market while the RSI (14) moves below 50-level which may welcome bearish signals in the nearest term.
