Litecoin is looking for a bullish breakout at $180 level and preparing to get back to the track competing its rival – Bitcoin. Here is the 21-23 March Litecoin Technical Prediction.
21 March, AtoZForex – Litecoin or LTC – the world’s fifth largest cryptocurrency by market cap surged 8.69% to $175 level today. Litecoin is looking forward to the bullish move after crossing the major hurdle at $164 mark. In the last 1 Day, the price has moved by $ 14.02 (8.81%) with a total volume of over $ 119.84 Million. The highest price, $ 175.41, was on Wednesday, 21 March 2018. The lowest price, $ 158.95, was on Tuesday, 20 March 2018. Will Litecoin price surge to US$ 190 by this weekend?
21-23 March Litecoin Technical Prediction
The 26% hike from the March 18 low of $137 indicates the sell-off from the Feb. 20 high of $254 has finished. Moreover, the trading volume has dropped by 17 percent since March 18, suggesting the gains might be transient.
Additionally, the Litecoin is trading well above its 200 weekly-moving average. A daily close above $177 would confirm a bull flag breakout and a bullish rally towards $190-200 will continue.
According to Fibonacci Retracement charts, the LTCUSD pair crossed 23.6% Fibo retr. level this morning signaling a bullish move. On the upside, if the Litecoin sustains to cross the 38.2% Fibo. retr. zone, i.e., $180 mark than an upside move towards $210- $215 level could be seen.
On the downside, if the LTCUSD pair failed to sustain this range, i.e., $170- $175 level than a significant drop towards $135- $130 can be seen.
But, the technical charts likely favor the Litecoin price to move forward. Thus, I expect the Litecoin price to test $190- 200 mark by the end of this week.
The relative strength index(14) value is above 50 which means Buy.
The MACD(12,26) value is 40.830 gives buying signal in weekly charts.
Moreover, according to ATR(14), the LTCUSD pair is Less volatile.
The Litecoin has strong weekly support near $140 level and resistance at $180 level.
LTCUSD Weekly Pivot Point
What’s your opinion on the 21-23 March Litecoin Technical Prediction? Let us know in the comment section below.