Litecoin (LTC) is a blockchain ecosystem started as a Bitcoin-killer. It boasts of a higher crypto supply, transaction speed, a<a href="https://www.cryptoknowmics.com/news/top-5-altcoins-to-invest-in-march-2021/">nd security as compared to Bitcoin</a>.
<h2><b>Past Performance</b></h2>
As of March 9, 2021, the opening price of LTC was $191.94. As of March 15, 2021, the closing price of LTC is $200.59. Thus, the LTC price has surged by approximately 4.5% in the past week. In the last 24 hours, LTC has been trading between $191.15 and $221.89.

<img class="alignnone wp-image-190683" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/03/LTC16th-300x192.png" alt="LTC Price Analysis" width="622" height="398" />

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<a href="https://www.tradingview.com/x/fYvNJCU1">https://www.tradingview.com/x/fYvNJCU1</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, LTC is trading at $197.58. The LTC price has decreased from the opening price of $200.59. Thus, the market looks bearish.

The <strong>OBV indicator</strong> is downward sloping indicating that selling volumes are higher than buying volumes. Thus, heavy distribution activity will exert downward pressure on the LTC price. Hence, we can expect the LTC price to go down further.

At present, the <strong>RSI indicator</strong> is at 59%. It faced a bullish swing rejection at 42% and started rallying. This is a positive sign as it implies that buying activity is slowly picking up. Hence, we can expect the trend to reverse in some time and the price to start rising.

The <strong>MACD line</strong> has already turned positive while the signal line will soon turn positive. Both the lines have been in the negative region since morning. Thus, a trend reversal is on the horizon. The bearish market momentum may soon weaken and the price may start climbing up.
<h2><b>LTC Price Analysis</b></h2>
Currently, LTC is trading below the Fibonacci pivot point of $204.22. It is close to the first support level of $192.85 and may fall below it if bulls don’t take over the market.

As of now, the price has tested and fallen below the 23.6% FIB retracement level of $198.13. A trend reversal is confirmed if the price retests and breaks out of this level in some time. By day close, if the price manages to break out of the 38.2% FIB retracement level of $202.44, then a bull-run is confirmed. In that case, the price uptrend will continue tomorrow.

LTC Below $198-Reversal to Happen-Technical Analysis

Litecoin (LTC) is a blockchain ecosystem started as a Bitcoin-killer. If the price breaks out of the level of $202.44, then a bull-run is confirmed.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

LTC Below $198-Reversal to Happen-Technical Analysis

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