Litecoin Price Analysis: LTC/USD Settled Below $200

Litecoin Price Analysis: LTC/USD Settled Below $200

However, the upside move was capped by the $188-190 resistance zone. The stated $190 level was a support earlier and now it is preventing gains. Moreover, there was a failure to break the 61.8% Fib retracement level of the last decline from the $195.41 high to $174.04 low.

It seems like the price has settled below the $190 and $200 level and it remains at a risk of more declines. More importantly, yesterdays highlighted key bearish trend line with current resistance at $188 is intact on the hourly chart of the LTC/USD pair.

Therefore, any major correction from the current levels is likely to be capped by the $185 and $190 levels. In the short term, the price may resume its downtrend and it could even retest the $175 level.

Below the mentioned $175 level, there is a possibility of LTC/USD moving back towards the $150 level. The overall bias is negative and it seems like the price may extend declines as long as it is below $200.

Trade safe traders and do not overtrade!

07.03.2018 / 22:29 41
Ripple Price Technical Analysis  XRP/USD Declines Below $0.8500 Ripple Price Technical Analysis
Key Highlights Ripple price fell sharply and declined below the $0.8500 and $0.8200 support levels against the US dollar. There is a major bearish
Bitcoin Cash Price Technical Analysis  BCH/USD Declines Sharply Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price extended declines and moved below the $1,100 support against the US Dollar. There is a new connecting bearish trend
Ethereum Price Technical Analysis  ETH/USD Sell on Rallies Ethereum Price Technical Analysis
Key Highlights ETH price extended declines and traded below the $828 support level against the US Dollar. There is a major bearish trend line forming
Ripple Price Technical Analysis  XRP/USD Trimming Gains Ripple Price Technical Analysis
Key Highlights Ripple price traded above the $1.08 level yesterday before starting a new downside against the US dollar. There is a short-term
Ethereum Price Technical Analysis  ETH/USD Could Decline Further Ethereum Price Technical Analysis
Key Highlights ETH price formed a short-term top near $857 and moved down against the US Dollar. There is a key connecting bearish trend line forming
Bitcoin Cash Price Technical Analysis  BCH/USD Testing Key Support Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price was not able to move above the $1,280 and $1,290 resistance levels against the US Dollar. There is a key bullish trend
Comments (0)
Add a comment
Comment on