Litecoin (LTC) Continues Its Decline To $180 Low, Trend Reversal Likely

Litecoin (LTC) Continues Its Decline To $180 Low, Trend Reversal Likely

Key Highlights
The altcoin has fallen to the oversold region
Litecoin has a target price of $181.10 low

Litecoin (LTC) Current Statistics
The current price: $185.37
Market Capitalization: $15,582,279,560
Trading Volume: $3,265,407,631
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis March 23, 2021
Litecoin has been in a downward move after its rejection from $230 high and subsequent consolidation above $200 support. On March 20, the bears broke the $200 support as the altcoin slumped to $192. LTC price corrected upward and retested the $200 high. The selling pressure resumed after the retest. The crypto declined and it is fluctuating above the $180 support.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The crypto has fallen below the 20% range of the daily stochastic. LTC is in the oversold region which implies that buyers are likely to emerge. The Relative Strength Index period 14 indicates that the coin is in the downtrend zone at level 45.

LTC/USD – 4 Hour Chart

Conclusion
Litecoin is in a downward move but may reverse as it reaches the oversold region. On March 17, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the crypto will fall to level 1.272 Fibonacci extensions or the low of $181. 10. The coin is likely to reverse at $181.10


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.