Quick update on the Litecoin markets.

Litecoin forecast 6 March 2018

The Litecoin hype has slowly been dying and we can see that the trading volume is dried up.

In these situation we are usually faced with a break upwards or downwards, prices are coiling tighter as the market decides on a direction.

If there is no buying volume prices are most likely going to retest the $200 zone, which is also our short term support for the market.

RSI and PPO are both hinting towards the bearish side and we should have confirmation soon enough.

I am neutral on the Litecoin markets, might consider to go long should prices consolidate above $230 on the near term.