- Litecoin LTC worth has began this week on a optimistic observe
- The digital asset may stage a technical rebound
- Litecoin LTC worth is bearish within the short-term outlook
Litecoin information at present – The worth of Litecoin is beginning the brand new buying and selling month on a extra optimistic observe. We will inform this after the quantity six largest digital foreign money by market cap posted its greatest weekly loss shortly. The final time the digital asset had such a loss was in July 2019. This loss was posted final week. Since then, notably March 1, the worth of LTC has entered a optimistic pattern. Litecoin worth prediction reveals that the digital foreign money is about to stage a rebound to the $73.00 place earlier than it could actually comfortably determine its subsequent main transfer on the every day chart.
Litecoin (LTC) Value Right this moment – LTC / USD
Litecoin Prediction – The Value of Litecoin May Rebound within the Medium-term
The charts present that the worth of Litecoin suffered its greatest weekly loss in eight months final week after tumbling beneath the $60.00 place. The LTC/USD buying and selling pair additionally slumped underneath its key 200-day MA on the weekend. This worth motion is going on for first-time in a single month. LTC technical evaluation signifies that the digital asset may submit a technical rebound to the $73.00 worth level. Significantly now that LTC has gotten to its near-term bearish place. Per the every day time-frame, LTC worth is consolidating at 200-day MA and the 50% Fib retracement place through the present buying and selling excessive to final 12 months’s low. The coin managed to maintain its power above $60.00. This motion may provoke a restoration to the $65.00 and $73.00 space.
The Brief-term Outlook for LTC/USD is Bearish
Litecoin price prediction – Litecoin technical evaluation signifies that the coin is might be bearish within the short-term buying and selling beneath the $70.00 place. In the meantime, the decrease time frames signifies {that a} bearish head and shoulders pattern line will sprout if the worth of LTC slumps to $50.00. A continued weak spot underneath the $58.00 space may activate a deeper decline to the $55.00 and $50.00 space. A have a look at the draw back sample implies {that a} drop to the $20.00 area for LTC/USD may occur if the $50.00 place is breached. Notice that the general market cap of the crypto market is technically bullish at the moment. This, in flip, implies that the previous bearish short-term scenario could not proceed or reoccur at this level.
One other have a look at Litecoin’s technical evaluation signifies that the digital foreign money may stage a restoration to the $73.00 space earlier than any main course transfer can happen. The $58.00 level is probably going to behave as a significant pivot place.
