Litecoin Price rejects $100; Will LTC price retest $65 again? 

• Litecoin Price rejects $100 and corrected 20% approx from the swing high.
• Litecoin Price prediction suggests a rise in the long term till it sustains above $65.
• LTC price dropped below the 50 day EMA and struggles to hold the 200 day EMA.

Litecoin price prediction suggests a rise in the long term till it sustains above the $65.00 support. However, in the short term LTC price might trade with mild bearish bias in the wide range between $65.00 to $105.00. Litecoin price faced rejection from $100 corrected 20% approx from swing high. It shows sellers are again getting active and trying to dominate on the high levels. 

Litecoin price dropped below the 50 day EMA showcase short term trend has reversed in the downward direction. However, buyers are struggling to defend the 200 day EMA to keep the positional trend in favor of bulls. From the past few weeks, LTC price seems to be stuck into the narrow range and likely to break either side soon. However, if price drops below the 200 day EMA the probability of breakdown will increase. 

Litecoin price is trading at $83.35 with an intraday rise of 0.11%. The 24 hour volume to market cap ratio is 0.0981. The pair of  LTC/BTC is trading at 0.002886 with an intraday decline of -0.03%. The chart structure of LTC with BTC pair is in strong downtrend and displayed a death crossover. It shows more sellers are active in the BTC pair as compared to the USDT pair. 

At the beginning of March, Litecoin price tried to sustain the price near $100 but sadly the overall market sentiment turned bearish. It negatively impacted the LTC crypto and prices declined with the strong momentum. 

Is correction begins in Litecoin Price?

Litecoin price downfall halted near $65.00 and formed a  bullish hammer candle. Later, the overall market sentiment improved and LTC price showed signs of bullish trend reversal. Slow and steady prices rose upward and recovered the losses. However, LTC buyers again failed to hold the higher levels and reverted in downward direction. 

If LTC price dropped below $80.00 support then the bear might try to drag it down to $65.00. However, if the price holds $80.00 and remains in consolidation then the short term rebound is possible. The technical analysis suggests, Correction in Litecoin price has begun, more downside is possible. 

LTC price had strong base at lower levels

LTC price formed a bearish candle on the weekly timeframe and dropped below the previous week low. Litecoin price has performed well in the past few months and has formed a strong base near $50.00 to $65.00. Therefore, if the LTC price tested the long term base again then possibility of bounce back also remains high. 

The technical indicators like MACD had generated a negative crossover. It indicates price might continue the bearish momentum for some more time. The RSI at 39 denotes weakness and may test the oversold territory.

Conclusion

Litecoin price prediction suggests a rise in the long term till it sustains above the $65.00 support. LTC price witnessed profit booking from the supply zone and struggles to defend the 200 day EMA. The technical analysis suggests Litecoin price turned short term bearish and might retest the lower levels. 

Technical levels

Resistance levels : $90.00 and $105.00

Support levels : $65.00 and $50.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.