Litecoin price analysis: LTC/USD contained by 100 DMA & 61.8% Fibonacci

  • Litecoin seen down marginally on Tuesday around 1%
  • Cautious trading across the board evident
  • LTC/USD trading around 61.8% Fibonacci & 100 DMA

 

The Litecoin price is seen marginally down around 1% during trading on Thursday. Market players remain cautious given the wild swings across the market over the last week. Sentiment is still unclear at this time and not yet decided as it appears.

Investors are also anxiously waiting for an update from the Litecoin development team, on their new payments solution known as Litepay, see review in previous article https://www.fxstreet.com/news/litecoin-price-analysis-ltc-usd-100-dma-supporting-price-around-154-201802121950. There would be hopes that this could help kick some life back into the price of Litecoin, assisting the bulls in recovery.

Looking technically, LTC/USD is currently being kept at bay by the 61.8% Fibonacci and the 100 DMA, around $173. A break above this resistance area, should be quite inviting to the $200+ region. Strong support seen at 200 DMA around $115.

LTC/USD daily chart

 

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