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

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

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.