LTC/USD
The rate of Litecoin (LTC) has declined by 2.3% over the last day.
Despite today’s fall, the price of the “digital silver” remains bearish-looking as it is trading near the local support level of $100. Thus, this mark is psychosocial, crucial for bulls as, if it breaks out, the drop is likely to continue to the $95 area.
On the daily time frame, the rate of LTC has failed to rise after yesterday’s bullish closure. If the bar closes around current prices, one can expect a test of $90 shortly.
Such a scenario is relevant until the end of the week.
From the midterm point of view, one should not expect any sharp moves soon. In this case, ongoing consolidation in the wide range of $95-$105 is the more likely scenario until mid-April.
Litecoin is trading at $100.38 at press time.
