Litecoin LTC Price Analysis April 5, 2023
LTCUSDTOn April 1, Litecoin bounced off the 20-day EMA ($89) and breached the downtrend line, but the bears are hindering the bulls' progress at higher levels, as shown by the long wicks on the April 3 and 5 candlesticks. Buyers hold the advantage, given the upsloping 20-day EMA and the RSI in positive territory. A minor resistance at $96 must be surpassed, and if successful, the LTC/USDT pair may escalate to the tough overhead resistance at $106. To prevent the uptrend, bears must pull the price back below the 20-day EMA, otherwise, the pair could fall to $85, a crucial support level indicating the bears' resurgence.
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