Litecoin : Price Analysis, March 28

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LTC/USD

The long position in Litecoin recommended at $165 was closed when it hit its stop loss at $142 on March 27.




LTC/USD




The LTC/USD pair now has support at the trendline of the symmetrical triangle at $128. If this support holds, the bulls will make another attempt to pullback towards $187. However, if the support breaks, the cryptocurrency can fall to the February 02 lows of $107.102.

The 50-day SMA has flattened out, which points to possible range bound movement. We will turn bullish when the price breaks out of the 20-day EMA and the downtrend line.

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