The overall trend for the Litecoin market remains bullish. The downward sloping support line indicates buyers’ intentions to keep the rate of the crypto currency above $95. The nearest resistance is placed in the $97-$98 zone.

At the same time, the altcoin is trading far from the overbought area. That is why buyers are expected to stay in the market as long as the price is above the $95 mark.

The bullish wave of the broader market also supports buyers’ intentions, although Litecoin sellers are typically more active. Will they be able to reverse the entire situation in the nearest future?

Litecoin (LTC) is one of the most popular coins known for its impressive end-year results. Its price has proved to be quite volatile over the past few weeks, with notable price movements both up and down. As of April 14, the currency has seen an increase of up to 2.70% over the last 24 hours and is currently trading at $96.51.

In the short-term, sideways trading between the local support of $96, and the resistance at $ 98.72 is likely, with low likelihood of any major price jumps by the end of the day. On the other hand, the litecoin has made a false breakout of the $98.72 resistance level on the daily chart. This could possibly lead to a local correction to the nearest support of $95.98, until the end of the week. The price could be pushed even further up by the midterm, with a bar closure near the vital $100 mark. This could potentially launch the altcoin to a $110-$120 zone.

Overall, the bulls are expected to remain on the market while the price of the cryptocurrency stays above $95. The support line also points towards buyers intentions to ensure Litecoin's price space is not threatened. The market as a whole is also enhancing the bullish wave which presents an invaluable opportunity for those seeking to buy the coin. It is however, worth noting that litecoin sellers are typically the most active participants in the market, with the potential to reverse the current trend in the near future.



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