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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Litecoin Price Prediction – Will the Rally Continue in March 2019?

  • Stavros Georgiadis
    πŸ“ˆ Price Predictions

    πŸ”₯πŸ”₯πŸ”₯We proved to be correct as a strong rally moved Litecoin (LTC) to the high price of about $58 as of March 8, 2019.

Litecoin Price Prediction – Will the Rally Continue in March 2019?
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In our article for Litecoin price prediction for the month of February 2019 we focused our main attention the price level of $40 as strong support. We proved to be correct as a strong rally moved Litecoin (LTC) to the high price of about $58 as of March 8, 2019.

πŸ‘‰MUST READ Litecoin Price Prediction – Trying for a Bounce from Support at $40

Will this rally continue in March 2019? Our Litecoin price prediction article for this month will highlight some forecasts by online sources and present our two scenarios based on technical analysis as a Litecoin price prediction. As always it is not any investment recommendation, just our opinion and commentary.

Litecoin Key Statistics and Year-to-date-Performance

A strong rally for Litecoin during the February 2019 until March 7, 2019 had positive effect on the change of Litecoin and its rank on CoinMarketCap about top 100 cryptocurrencies by market capitalization. Litecoin moved up two positions and is now ranked number 5 threatening to gain the fourth position that EOS has. As of March 8, 2019, the current value of Litecoin (LTC) is $58.18.

Other noteworthy key stats are:

  • Market Capitalization: 3.39 Billion, Circulating Supply: 60.77 M

  • Volume 2.11 Billion, Maximum Supply 84.00 Million

  • 52 Week Low- 52 Week High: $22.6620- $215.7165

  • Year-to-date-performance is +74.83%

Litecoin price prediction March 2019 from various sources

LongForecast has the following Litecoin price prediction for March 2019. An open price of $46.0, a low-high range of $45.0-$75.4 and a close price of $64.4 for a monthly return of +40%. It is a very optimistic forecast for Litecoin.

Digitalcoin forecasts that the price of Litecoin will increase in March and a potential target price is $77.Another too optimistic Litecoin price prediction.

WalletInvestor estimates that in 14-days Litecoin price target could be $62.046 on the upside and $46.787 to the downside. In general, the forecast trend line is trending up, a strong signal that indicates optimism for higher price levels soon for Litecoin.

30Rates has the following Litecoin price prediction for March 2019. β€œIn 3 weeks Litecoin price prediction on Thursday, March 28: minimum price $61.9, maximum $71.3 and at the end of the day price 66.6 dollars a coin. LTC to USD predictions on Friday, March 29: minimum price $59.9, maximum $68.9 and at the end of the day price 64.4 dollars a coin.” Again, a very optimistic scenario supporting higher price levels for Litecoin in March 2019.

Litecoin price forecast based on technical analysis

IMAGE

LTC/USD chart by TradingView

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LTC/USD chart by TradingView

Can Litecoin move to higher price levels than the current price of about $55 as of March 8, 2019?

Litecoin price prediction positive scenario

With the recent price action, a very optimistic trend exists for Litecoin with the potential for higher price levels in March 2019. Litecoin restested the high price level of $56.35 initially formed back in November 2018, a V-shape trend reversal. We have a strong trend, measured by the ADX/DMI indicator, the MACD indicator is moving up, both 20-day and 50-day exponential moving averages are rising, and now the former price level of $40 should be a strong support in the case of any price retracement. If the rally continues then some key target levels are $74, $94 and $101.

The weekly chart is also bullish but there is a strong resistance at the price level of $61-$62. We are concerned that after such a strong rally some profit taking may soon appear in the market. This profit taking will not change our positive estimate that there are increased odds for higher prices for Litecoin, unless price closes below the 50-period exponential moving average, with a recent price of $42.40. A retracement for Litecoin at the range of $42-$45 is probable before attempting to rise to the $70-$74 price level.

Litecoin price prediction negative scenario

What if a double top is formed near the price level of $55? We note a negative divergence for MACD histogram as Litecoin moved higher from $46.50 to $57.84 as of today, March 7, 2019. This negative divergence may act as a very early alarming signal that profit taking could appear soon for Litecoin.

The price level of $57-$59 is a strong resistance level on the weekly chart. In addition, Litecoin price has reached the upper weekly Bollinger band, which often acts as a resistance zone. We do not think that Litecoin could move to the lower weekly Bollinger band currently at about $21.33. We estimate that a pause for this rally could lead to lower prices, near the price levels of $44-$42. Also, the 50-day exponential moving average currently at $42.30 is another price target to the downside.

Litecoin price forecast conclusion for March 2019

We favor mostly the optimistic scenario. However, some profit taking is very probable at the current price of $55.

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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
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Contents

After trying to retain the position above $4,000, Bitcoin seems to be stuck. What to expect from BTC during the following weeks? What’s the best time to invest in Bitcoin? Let’s try to figure it out with tradingview users: they will provide their BTC price predictions and opinions about investment strategies.

Bitcoin has to break another resistance

Both shortage and resistance breaking are possible for BTC

Bitcoin price chart from DianKemala

This BTC price chart clearly explains the influence of the Fibonacci level on its price. Traders saw a big bearish candle 2 days ago, but bears stopped at $3,936 and started performing a sideways consolidation pattern.

Bitcoin failed to break the Fibonacci resistance zone (4004 - 3986), which isn’t a bullish sign, but we have another resistance above at $4,038. If Bitcoin is able to break up this resistance, the bullish period will continue. The important support before the bearish period is around $3,936. If this support breaks down, expect a bearish target at $3,860, or maximum at $3,780. 

Will BTC get back to $3,600?

$3,600 level is ideal for investments

Bitcoin price chart from MarcPMarkets

We are watching the BTC market trying to overcome 4K resistance level with varying success. According to MarcPMarkets, the current BTC trading environment does not offer an attractive reward/risk for putting any new money to work.

All risks should be properly assessed. The low 4K area is still the range resistance, while the lower 3K area is the range support. In the green box, you can view the potential reward, while the red box represents the potential risk. Why would we put on any new swing trades at range highs when chances are the price is more likely to test much lower levels in the short term? 

Candlesticks or RSI are not the only signals of upcoming BTC fall. The fact that price is beginning to show signs of structural weakness confirms our reasoning that staying out of any new swing trades near the range highs is the best choice for now. Support levels begin around the high 3600s and continue through to the 3450 levels. That might be the ideal time for investments.

Although supply may be slowly removed from the market, it will take some time before the effects play out. So we will continue to wait for two particular scenarios: 1) price retraces toward the lower part of the range for a reversal to go long; or 2) price breaks beyond 4150 and provides a momentum continuation pattern for a long.

BTC is ready for capitulation

 BTC movement is around the corner

Bitcoin price chart from DataPatron

During several months Bitcoin was consolidating in a tight range between $3,300 and $4,400. Now it seems to be completing sideways mission, and long term volatility promises a serious movement that’s around the corner.

I am almost sure another red leg symmetrical to the previous one (from 6 to 3k) is before us.

All in all, Bitcoin is in a broader recovery over the long term, but the short term is just not in a position that offers attractive reward/risk. Consider an investment in BTC, if it hits the $3,600-3,700 bottom line in a few weeks.

BTC/USD price chart on TradingView

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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