Litecoin surpassed the resistance of $107 on Friday, but the bulls were unable to hold the higher levels as seen in the long wick of the candle.
It is unlikely that the bulls will give up easily. They will try again to push and maintain the price above $107. If they succeed, the LTC/USDT pair could rise to $130 and then to $140.
Sellers are likely to have other plans. They will try to keep the price below $107. If they succeed, the pair could drop to the 20-day exponential moving average (EMA) ($93). A deeper pullback could delay the resumption of the bullish movement.
Bears have pushed the price below the $107 level, indicating a strong selling trend at higher levels. The pair could drop to the 20-day EMA, a crucial support to keep in mind. If the price strongly rebounds from the 20-day EMA, the bulls will try to push the pair above $112. If successful, the pair could rise to $120 and then to $130.
On the contrary, a break below the 20-day EMA indicates profit-taking by short-term buyers. This could sink the pair down to the 50-day simple moving average (SMA).