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Litecoin [LTC/USD] Technical Analysis: Cryptocurrency to recover from the unforeseen bear attack

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The cryptocurrency market has witnessed a sudden fall in the past 24 hours, wherein Bitcoin [BTC] has dropped below the $4000 mark. At press time, Litecoin [LTC] is trading at $33.26 with a market cap of $1.9 billion. The daily statistics of LTC is showing a loss of 4.9%, however, the cryptocurrency is still flashing green on the weekly chart with a 3% gain.

1-hour:

LTC 1 hour chart | Source: TradingView

LTC 1 hour chart | Source: TradingView

The hourly chart of Litecoin shows a massive downtrend from $41.6 – $39.8 and $36.557 – $33.54. The sudden price fluctuation has created strong resistance points at $39.7 and $41.6. Also, in this timeframe, there is a slight uptrend ranging between $32.4 and $33.1 with a support point at $33.

The Parabolic SAR has shown an unforeseen fall a few hours back by pushing the candlesticks downwards. However, the indicator is currently forming the dots below the candlesticks depicting a slight recovery from the major fall.

The cryptocurrency market has witnessed a sudden fall in the past 24 hours, wherein Bitcoin [BTC] has dropped below the $4000 mark. At press time, Litecoin [LTC] is trading at $33.26 with a market cap of $1.9 billion. The daily statistics of LTC is showing a loss of 4.9%, however, the cryptocurrency is still flashing green on the weekly chart with a 3% gain.

1-hour:

LTC 1 hour chart | Source: TradingView

LTC 1 hour chart | Source: TradingView

The hourly chart of Litecoin shows a massive downtrend from $41.6 – $39.8 and $36.557 – $33.54. The sudden price fluctuation has created strong resistance points at $39.7 and $41.6. Also, in this timeframe, there is a slight uptrend ranging between $32.4 and $33.1 with a support point at $33.

The Parabolic SAR has shown an unforeseen fall a few hours back by pushing the candlesticks downwards. However, the indicator is currently forming the dots below the candlesticks depicting a slight recovery from the major fall.

The Relative Strength Index is currently moving within the RSI zone, indicating that the inflow of money in the LTC market is stable in this timeframe.

The Awesome Oscillator is showing a slight transition to red bars, however, it has maintained the formation of the bars above the zero line. This indicates that there is not much fluctuation in the price of the cryptocurrency.

Conclusion:

The technical analysis demonstrates that though LTC suffered from a major downfall in the short term, the indicators are in favor of a fast recovery and a long term bullish run.

Source. ambcrypto

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Litecoin (LTC/USD) forecast and analysis on March 25, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 59.91. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on March 25, 2019

As part of the Litecoin course forecast, a test level of 58.50 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 64.00. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 57.80.

Litecoin (LTC/USD) forecast and analysis on March 25, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below the area of ​​56.20. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on March 25, 2019suggests a test level of 58.50. Further growth is expected to continue to the area above the level of 64.00. The conservative area for buying Litecoin is located area of 57.80. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 56.20. In this case, we should expect the continuation of the fall.

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Litecoin (LTC/USD) weekly forecast on March 25 — 31, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 59.54. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Litecoin (LTC/USD) weekly forecast on March 25 — 31, 2019

As part of the Litecoin course forecast, a test level of 55.30 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 53.20. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 45.20.

Litecoin (LTC/USD) weekly forecast on March 25 — 31, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotations of the pair below area 42.50. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) weekly forecast on March 25 — 31, 2019suggests a test level of 55.30. Further, growth is continued to the region above the level of 53.20. The conservative area for buying Litecoin is located area of 45.20. The cancellation of the option of cryptocurrency growth will be the breakdown of the level of 42.50. In this case, we should expect the continuation of the fall.

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Litecoin Price Holds its own Above $60

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The top cryptocurrency markets are not necessarily performing as expected. That is completely normal behavior when Bitcoin turns ever so slightly bearish once again. It puts a lot of strain on other top markets, although the Litecoin price is still doing its own thing. Sustaining this current upward momentum will be a bit troublesome, but so far, there is no reason to panic.

LITECOIN PRICE STAYS ABOVE $60 FOR NOW

It is evident Bitcoin leads the dance when it comes to determining the perceived value of alternative cryptos, tokens, and assets alike. This year, however, Litecoin has shown to not be too bothered by Bitcoin’s momentum when things get sour. It still benefits from a bullish BTC run like every other market, but the altcoin can stand on its own two legs without major issues. Today is another interesting example in this regard.

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To put this in perspective, the Litecoin price has gained 1.8% in USD value and 2.14% in BTC value. It is especially this latter aspect which triggers some cautious optimism. Sustaining gains over Bitcoin is crucial to ensure the USD value doesn’t plummet right away. For now, one LTC remains at a value of $60.87, although it seems further gains may be difficult to achieve.

It would appear the traders and speculator son social media do not favor Litecoin’s chances at this point. Bully the Bear, for example, expects “heavy dumps” to materialize in the hours to come. So far, the market has not shown any real signs of weakness, although one never knows if that might be a mirage. Calling for heavy dumps seems a bit odd at this point, however.

A similar sentiment is echoed by Frenchy’s Crypto Charts. This user sees a problematic near-term future for the LTC/BTC chart, although it remains to be seen if these predictions carry any real weight. A drop to 0.0135 BTC would not be that problematic for Litecoin by any means. It would represent a near 10% decline, though, which seems rather steep given the current trading volume and overall momentum.

For those traders who want to get the most bang for their buck, an interesting triangular arbitrage opportunity involving Litecoin has appeared. With a potential profit of just over 49%, there is a lot of good money to be mad. That is assuming there will be sufficient liquidity across all of the involved exchanges. Kraken and Binance should pose no problems, but Livecoin is usually a very different story.

All of these signs seem to indicate Litecoin is successful in bucking the bearish trend at this time. Even though traders and speculators expect this uptrend to collapse fairly soon, there is seemingly no indication those predictions will come true. As the day progresses, however, there can always be unexpected changes which cause a ripple effect.

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