LITECOIN PRICE ANALYSIS & PREDICTION (March 28) LTC Slips Under $90 Amid Dip, Looks Set For a New Swing Low
Following a 6% drop today, LTC appears weak daily and looks set for another crash as it approaches a key support. Failure to break through may trigger a little consolidation before deciding the next move.
Last months trading was painful as LTC witnessed a major crash after failing to push above $140. This brought a significant loss, and the trend swiftly switched from bullish to bearish within the blink of an eye.
The most important part of the crash lies in the breakdown of the key $100 level that stood as crucial support for the past three months.
Ending that month extremely weak, LTC saw a relief this month and retraced for three weeks. Things turned negative today due to a sudden decrease in the market cap, and the price dropped to $88.
As seen on the daily chart, the bears appear back in action following an increase in the selling volume since yesterday. A continuous increase in volume could fuel more dips in the coming days. This could lead to a serious bloodbath next month if this week closes on a bearish note.
While the current monthly low is a key sell target to watch for another crack, LTC may revisit the $70 level anytime soon. That should be expected when the supply level turns heavy.
LTCs Key Level To Watch
Source: Tradingview
The key closest target support for the bears on the way down is $83.3 the current monthly low. If they surpass it, their next target would be $77.9, along with the $74.3 level.
Towards the upside, LTC recently marked resistance at $. If the price climbs back above it, the $ and $ levels are the next resistance to consider for an increase.
Key Resistance Levels: $96.5, $100, $113
Key Support Levels: $83.3, $77.9, $74.3
- Spot Price: $88.7
- Trend: Bearish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Text source: NullTX
