Litecoin (LTC) Resumes an Uptrend, Fails To Break the $205 Resistance Level

Litecoin (LTC) Resumes an Uptrend, Fails To Break the $205 Resistance Level

Key Highlights
Litecoin retests the $200 resistance zone
The coin may fall again to the previous low above $180

Litecoin (LTC) Current Statistics
The current price: $196.60
Market Capitalization: $16,511,825,177
Trading Volume: $5,042,328,533
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis March 9, 2021
Litecoin is making an impressive upward move to the previous highs. The current uptrend is facing resistance at the $200 resistance zone. After February 23 breakdown, Litecoin has made three upward moves to the previous highs. Each upward move has been facing rejection at $200 resistance zone. Today, the price is falling after testing the resistance zone. On the upside, if the bulls cleared the resistance zone, the market will rise and retest the $240 overhead resistance. The coin will continue in its fluctuation between $155 and $205 if the bulls fail to break the previous high.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
The crypto’s price has broken above the 21-day SMA and 50-day SMA. This indicates that the coin is likely to rise on the upside. The market is above the 40% range of the daily stochastic. This indicates that the price is in a bullish momentum.

EUR/CHF – Daily Chart

Conclusion
Today, the coin is making an upward move to the previous highs. On March 3 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the crypto will rise to level 1.272 Fibonacci extensions or the high of $207.93. However, there is the possibility of the coin falling to the 78.6% Fibonacci retracement level where it originated.


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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.