Litecoin LTC Price Analysis April 7, 2023

LTCUSDT

The failure of Litecoin's bulls to push its price above 96 has given the bears the upper hand. They are trying to drag the price below the 20-day SMA (90), and if they succeed, the next stop could be 85, which is an important level to watch out for. If the bears break and close below 85, it could result in a retest of the 200-day SMA (75). Alternatively, if the price rebounds from the current level but fails to cross 85, the LTC/USDT pair may trade sideways between 85 and 96 for a few days. The RSI has dropped near the midpoint, suggesting a consolidation in the near term, and buyers will need to overcome the overhead resistance at 96 to extend the recovery to $106.

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