On 15 March, the price of the fourth largest crypto asset opened at $56.36, and gradually rose to $57.12, by press time. LTC held a market cap of $3.47 billion, with a 24-hour trading volume of $1.62 billion. The silver token recorded a slight positive change of 1.21% against the US Dollar.
Coineal contributed to 8.94% of the coin’s 24-hour trading volume via the trading pair LTC/BTC.
LTC’s one-hour chart showed an uptrend from $45.28 to $52.35, and a minor downtrend from $56.76 to $54.75. The resistance for the coin remained at $58.40, while the support for the coin stood at $45.35.
Parabolic SAR: The dotted markers were aligned below the price candles, suggesting a bullish phase for the coin.
MACD: The MACD line continued to tread above the signal line and depicted a bullish market for the coin.
Klinger Oscillator: The reading line was below the signal line and predicted a bearish course for Litecoin.
The candlesticks on the LTC chart exhibited an uptrend from $32.82 to $45.68, and a significant downtrend from $56.01 to $33.96. The immediate resistance for the silver crypto asset was noted at $67.73, while the second resistance was at $89.15. Significant support for the coin was found at $29.80.
Bollinger Bands: The BB indicators showed the bands diverging and suggested a possible price breakout.
Awesome Oscillator: The closing bars of the indicator were red, suggesting bearish price momentum for Litecoin.
Chaikin Money Flow: The CMF was above the zero-line and suggested that money was flowing into the coin market. Therefore, a bullish price pattern was pictured for LTC.
The short-term indicators sided with the bull, while the long-term chart was unclear in its prediction.
Litecoin (LTC/USD) forecast and analysis on March 21, 2019
Cryptocurrency Litecoin (LTC/USD) is trading at 58.58. 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 21, 2019
As part of the Litecoin course forecast, a test level of 57.50 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 64.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at the level of 57.10.
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 a moving average with a period of 55 and closing quotes pair below the area of 54.20. 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 21, 2019 suggests a test level of 57.50. Further, the continuation of growth to the area above the level of 64.20 is expected. The conservative area for buying Litecoin is located area of 57.10. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 54.20. In this case, we should expect the continuation of the fall.
Litecoin [LTC] Price Analysis: Potential price rally forecast even as coin exhibits bearish momentum
The fourth largest coin on CoinMarketCap, Litecoin [LTC], was trading above $60, at press time. LTC emerged as one of the winners in the recent market surge, and the coin has doubled in value since the beginning of the year.
At press time, the crypto asset held a market cap of $3.67 billion, and was priced at $60.50. The digital silver registered a 24-hour trading volume of $1.85 billion. LTC exhibited a growth of 1.71% against the US dollar in the past 24 hours, while a growth rate of 7.23% was recorded over the past seven days.
Coineal continued to contribute significantly to the coin’s 24-hour trading volume, providing 7.86% of the total trade volume via the LTC/BTC trading pair. Coineal was followed by DigiFinex and Coinall with 5.82% and 4.48% of the trading volume, respectively.
LTC’s one-hour chart exhibited a minor uptrend from $52.39 to $55.44, and another uptrend from $55.86 to $60.29. The minor downtrend from $61.40 to $59.28 can be attributed to the latest dip in the coin’s price, following a bullish recovery. The immediate resistance was at $65. The support for the coin was found at $52.39.
Bollinger Bands: The mouth of the bands depicted a volatile future for the coin’s price in the short term.
Awesome Oscillator: The closing bars of the indicator were red, and indicated bearish price momentum for Litecoin.
Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that the money was flowing into the coin market. Hence, a bullish price pattern was predicted for the silver crypto asset.
The candlestick arrangement on the one-day chart of LTC showed an uptrend from $32.84 to $45.63, and a major downtrend from $83.85 to $33.98. Immediate resistance for the crypto asset was marked at $88.55, while the immediate support firmly stood at $28.84.
Parabolic SAR: The dotted markers were below the candlesticks, suggesting that the coin was following a bullish trail.
Klinger Oscillator: The reading line was below the signal line, posting bearish pattern for the crypto coin.
MACD: The MACD indicator suggested a potential bearish crossover.
The short-term indicators for Litecoin projected mixed signals, with a hint of potential breakouts. However, a majority of the long-term indicators sided with the bear.
Litecoin (LTC) Unlikely To Break Past $65 As Price Runs Into Trend Line Resistance
Litecoin (LTC) has been on a roll for the past few weeks and it has now broken past the 61.8% Fibonacci retracement level and is eyeing the 1.272% Fib level to finish this rally. We saw LTC/USD run into the top of the ascending channel soon after it broke past the 61.8% Fib level but it did not decline sharply. Instead, the price started to rise again after a minor pullback and ran into the trend line resistance once again. The price is expected to do the same once more after a small retracement short term. This next rally would most likely result in a test of the 1.272% Fib level at the top of the ascending channel. That is expected to be the final move to the upside before the next major decline sets in.
The halvening FOMO had a big impact on the price of Litecoin (LTC) and we saw the price rise aggressively when the mainstream media started talking about Litecoin (LTC)’s next halvening in August, 2019. We are still a long way from August but considering that Litecoin (LTC) is not a big enough cryptocurrency to be a bought on OTC markets, most of the buying and selling is done on exchanges and when some traders started to see the whales accumulating large amounts of Litecoin (LTC) they followed. This led to the herd following both the whales and the professional traders and the price of Litecoin (LTC) shot up until it topped out on most time frames. Please note that whenever the whales want something so bad, they want to create a negative experience.
Chart for LTC/BTC (1W)
The way this works is that you prop up the price of an asset prior to an expected development and then you crush its price well before that development (halvening). They have been doing it with stocks, commodities and a plethora of other financial assets for years. Let’s say a company had good earnings and Wall Street wants the stock really bad. So, they crush the price so the retail investor would feel bad about the price going down on positive news. We saw the same happen with Ripple (XRP) when the price kept declining sharply during its Swell Conference in 2017. A lot of people took this as a sign of weakness but the professionals knew what was going on so they bought the dips. In the weeks after, Ripple (XRP) rose to a new all-time high.
Litecoin (LTC) is having a good run now but when the market starts to decline, a lot of people are going to give up and Litecoin (LTC) is most likely going to get crushed one of the hardest because it has already rallied so aggressively. This will once again result in a lot of people giving up on Litecoin (LTC) but the smart money as always will know when to buy for long term. Litecoin (LTC) is down more than 83% from its all-time high and we expect it to go down further. However, let us not forget that the price cannot just decline 100%. No matter where the bottom is, there is no doubt that it is very close. So, if anything this is the time to be accumulating, not selling.