- \n
- Litecoin price succeeded in holding the $204-205 support zone (Data feed of Kraken) against the US Dollar.<\/li>\n
- There is a short-term bearish trend line forming with resistance at $210 on the hourly chart of the LTC\/USD pair.<\/li>\n
- A break above the $210 resistance could push the pair towards the $218 and $220 resistance levels.<\/b><\/li>\n<\/ul>\n
Litecoin Price Forecast<\/h2>\n
There was a minor downside reaction<\/a> below $210 recently in litecoin price against the US dollar. The LTC\/USD pair was not able to stay above the $208 support and declined towards the $204 support.<\/p>\n
The recent low formed was $205.96 and the pair is currently correcting higher. It has moved above the 23.6% Fib retracement level of the last drop from the $216.41 high to $205.96 low.<\/p>\n
![\"Litecoin](\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/03\/Litecoin_Price_Chart-3-1024x520.png\" "\\"\\"")
<\/a>Cryptocurrency charts and prices provided<\/a> by TradingView<\/figcaption><\/figure>\n However, there is a major resistance near $210, which is preventing further recoveries. There is also a short-term bearish trend line forming with resistance at $210 on the hourly chart of the LTC\/USD pair.<\/p>\n
The trend line resistance is close to the 38.2% Fib retracement level of the last drop from the $216.41 high to $205.96 low. Lastly, the 100 hourly simple moving average is positioned near $210.<\/p>\n
Therefore, the $210 area could act as a major resistance for the next move in LTC. Once there is a proper break and close above the mentioned $210 resistance, the price may continue to rise towards the next hurdle at $218 and $220.<\/p>\n
On the flip side, if the price fails to move above the $210 resistance, it may retest the recent swing low of $205.96. In the mentioned case, the price could even test a crucial support at $204.<\/p>\n
The overall bias is slightly bearish as long as the price is below $210. It seems like litecoin is consolidating above the $200 level and is preparing for the next move.<\/p>\n
Trade safe traders and do not overtrade!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Litecoin price is holding the $204 support level against the US Dollar. LTC\/USD needs to move above the $210-212 resistance to challenge sellers near $218. Key Talking Points Litecoin price succeeded in holding the $204-205 support zone (Data feed of Kraken) against the US Dollar. There is a short-term bearish trend line forming with resistance at $210 on the hourly chart of the LTC\/USD pair. A break above the $210 resistance could push the pair towards the $218 and $220 […]<\/p>\n","protected":false},"author":6,"featured_media":7337,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[824],"tags":[188,161,111],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/7336"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=7336"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/7336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/7337"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=7336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=7336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=7336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}