- \n
- Litecoin price failed to recover and move above the $210 resistance (Data feed of Kraken) against the US Dollar.<\/li>\n
- There is a major bearish trend line forming with resistance at $198 on the hourly chart of the LTC\/USD pair.<\/li>\n
- The pair remains at a risk of more declines since it broke the $200 support.<\/li>\n<\/ul>\n
Litecoin Price Forecast<\/h2>\n
Yesterday, we discussed about the $210 resistance area<\/a> in litecoin price against the US dollar. The LTC\/USD pair failed to move above the mentioned $210 resistance and started a downside move.<\/p>\n
The decline was substantial as there was a break below a crucial support at $204. The decline was such that the price even failed to hold the $200 support. As a result, the price is now trading well below the $210 level and the 100 hourly simple moving average.<\/p>\n
![\"Litecoin](\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/03\/Litecoin_Price_Chart-4-1024x520.png\" "\\"\\"")
<\/a>Cryptocurrency charts and prices provided<\/a> by TradingView<\/figcaption><\/figure>\n The recent low formed was $191.82 before the price started an upside correction. It moved above the 23.6% Fib retracement level of the last decline from the $209.88 high to $191.82 low.<\/p>\n
However, it won\u2019t be easy for buyers to push LTC price higher since there are many hurdles on the upside such as $200 and $204. There is also a major bearish trend line forming with resistance at $198 on the hourly chart of the LTC\/USD pair.<\/p>\n
Moreover, the 50% Fib retracement level of the last decline from the $209.88 high to $191.82 low is around the $200 level. Therefore, the $198-200 zone may act as a major barrier for an upside move in the near term.<\/p>\n
On the downside, the recent low of $191 is a short-term support. Should there be a break below $191 and $190, the next stop for sellers could be $180.<\/p>\n
To sum up, the current price action is bearish on litecoin, and the price may decline further below $190.<\/p>\n
Trade safe traders and do not overtrade!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Litecoin price failed to move above the $210 resistance and declined against the US Dollar. LTC\/USD is currently in a bearish zone and it may decline further. Key Talking Points Litecoin price failed to recover and move above the $210 resistance (Data feed of Kraken) against the US Dollar. There is a major bearish trend line forming with resistance at $198 on the hourly chart of the LTC\/USD pair. The pair remains at a risk of more declines since it […]<\/p>\n","protected":false},"author":6,"featured_media":7355,"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\/7354"}],"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=7354"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/7354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/7355"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=7354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=7354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=7354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}