Litecoin Price Prediction: LTC/USD Faces Rejection at $76 as Bulls and Bears Contemplate the Next Move
Litecoin is trading at $73 after retesting the previous high at $76. LTC is consolidating above $70 as they fail to break above the $76 resistance. Presently, BTC is fluctuating between $70 and $76. On the upside, if the price breaks the $76 resistance, the upward move will resume. LTC will rise and possibly reach the February price level of $80. The bears take advantage to break the support at $70 if the bulls fail to break into previous highs. Conversely, the bears will attempt to push LTC below the $68 support by breaking the $70 support. Subsequently, the price will fall to a low at $64. Meanwhile, LTC is trading at $73 at the time of writing.
Litecoin Indicator Analysis
The crypto price is at level 69 of the Relative Strength Index period 14. The coin was earlier in the overbought region but has fallen to the uptrend zone. It indicates it is capable of rising. The price bars are well above the SMAs which indicates a possible rise of the coin.
Reference by: Azeez Mustapha