Litecoin End of March, Early April Forcast
Litecoin seems to be stuck under a confluence of major resistance from its .618 Fib area and it's moving averages. The .618 area (Around Mid 190.00's to 200.00) has been both support and resistance a number of times since the beginning of 2018. As long as it stay in the RED histogram area, and under the green moving average line we are going to continue see a push down. What we need to see is for the RED and GREEN moving averages to start closing in on each other and simultaneously be pointing in the same direction. We could get there with a few weeks of sideways action.
We may need to see more movement to the downside to get some separation between the .618 area and the moving averages so we can take them out 1 at a time in a future move up.
I think Litecoin is capable of blowing through these areas of resistance as it stands now, IF... We were to get some major announcement regarding Litepay. However, Looking at the big picture I think it is highly probable we see another move to the downside or at minimum a few more weeks going sideways.
Downside targets. $149, $138, and $100 range.
We may need to see more movement to the downside to get some separation between the .618 area and the moving averages so we can take them out 1 at a time in a future move up.
I think Litecoin is capable of blowing through these areas of resistance as it stands now, IF... We were to get some major announcement regarding Litepay. However, Looking at the big picture I think it is highly probable we see another move to the downside or at minimum a few more weeks going sideways.
Downside targets. $149, $138, and $100 range.
Looking for Litecoin under $100.00 before we start a positive uptrend.