Litecoin: Price Analysis, April 06

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LTC/USD

Litecoin continues to fall towards its critical support zone of $114.706 to $107.102. If the bulls fail to defend this zone, prices will sink to $84.708 levels.




LTC/USD




If the support zone holds, we may see another attempt by the bulls to break out of the downtrend line and the 20-day EMA.

While the 20-day EMA is falling, the 50-day SMA is relatively flat. So, if the immediate support holds, the LTC/USD pair can enter into a range.

We shall suggest a trade if it breaks out and closes above the 20-day EMA.

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