Litecoin Price Prediction: LTC/USD Will Only Move Higher If $40 Is Broken

The Litecoin (LTC) price records gain of almost 1.5%, as the coin is seen approaching the $40 level. However, a few days ago, the Litecoin (LTC) price was trapped in an incredible narrow trading range after the bullish rally has failed to materialize several times.

The critical support level is located below the 9-day moving average at level 5500 SAT and below as the RSI (14) moves below 40-level. However, if the bulls continue to power the market, the coin may likely cross the 9-day and 21-day moving averages to reach the resistance level above the upper limit of the channel at 6500 SAT and above.

Timeline of Litecoin