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LITECOIN PRICE ANALYSIS & PREDICTION (March 11) – LTC Lost $100, Dips to Two-Month Low After Dropping 18% Weekly
Litecoin’s price has taken a significant hit this week, plummeting by an astonishing 18% and dropping to a two-month low. The sudden downturn in the market has seen LTC lose a whopping $100, leaving investors reeling.
As supply flooded the market, Litecoin’s price began its downward trajectory earlier this month. However, things took a turn for the worse over the past week, with a heavy loss that has put a significant dent in the cryptocurrency’s value. As of today, Litecoin is trading at an unimpressive $89.3, with many wondering what the future holds.
Despite the recent downturn, there are some key levels to watch as we move forward. The current low, situated at $83, serves as daily support. If LTC drops below this level, the price could potentially fall all the way down to $74.3 or even as low as $68 by the end of the month.
On the flip side, if Litecoin can manage to push through its current resistance at $87, it may be able to bounce back somewhat and return to a trading range above $80. However, with the bearish sentiment still firmly in control, it’s difficult to envision this scenario playing out without some significant changes in market dynamics.
Looking ahead, investors should pay close attention to the $92.6 hourly resistance level. If Litecoin can break through this barrier, we may see a brief retracement back up towards the lost psychological $100 level. Should this occur, it could be an early sign of a potential turnaround.
However, with the market’s current volatility, it’s essential for traders and investors to remain vigilant and adapt quickly to any changes in the cryptocurrency’s value.
