Expert Warns: Litecoin (LTC) Price Could Collapse to $70 – Here's Why

Litecoin is down 5.21% over the past day, now trading at $88.51. Looking at the technical patterns, it seems like the LTC price might fall even more.

Litecoin (LTC) has come under immense selling pressure, and according to veteran analyst Ali, further declines might occur if a key support level is breached.

Litecoin Price Analysis: LTC Could Fall to $70

The LTC price is down 5.21% over the past day, now trading at $88.51. As the crypto market continues to experience volatility, several assets are showing signs of recovery, while others might be setting up for further declines.

In a recent analysis post on X, also know as Twitter, veteran analyst Ali highlighted his concerns regarding Litecoin’s recent breakdown. As the crypto continues to trade in a downward channel, failing to reclaim lost support levels could trigger a move toward $70.

"Litecoin exiting this channel sets up a price move to $70," the analyst stated.

Litecoin's price has followed a downward trajectory after peaking above $137 earlier in the observed period. The asset showed considerable volatility, bouncing between resistance levels before losing support. The breakdown below $108 was followed by an accelerated drop, bringing the price close to $92.795 before dipping further.

Support levels that previously offered stability are now under pressure. The $97 mark, which acted as a floor, has since turned into resistance.

"The LTC price is currently testing the $89 support zone. If the sellers manage to overwhelm the buyers and break this level, we might see a continuation of the downward trend," the expert explained.

With the next support level at $70, technical indicators suggest that LTC's price might move toward this zone if the sellers manage to persist in their efforts and the $89 support is breached.

Expert Analysis And Litecoin Bearish Outlook

Pointing out that Litecoin is exiting a critical trading range, which could set the stage for a deeper correction, Ali further noted: "Litecoin exiting this channel sets up a price move to $70."

His analysis, which was shared via X, also highlighted the importance of the $97 resistance level. If LTC's price fails to break above this point, we might see the downward momentum continue.

"The next support is at $89, but if this level breaks, we can expect to see a rapid decline towards the next support zone."

Given the market conditions, traders will be monitoring whether Litecoin's pricr can recover or if the bearish trend will persist.

Pi Coin Price Prediction For Today (March 18)

Following a recent surge in interest, Pi Network's native token, Pi, has become a hot topic among crypto traders.

As the project prepares for its mainnet launch, many are curious to learn more about the token and its potential.

According to the latest price predictions from leading crypto analysts, Pi is expected to trade at around $0.15 to $0.20 by the end of 2023.

The price predictions for Pi vary widely among analysts, with some setting lower targets and others setting higher ones.

The optimism stems from the project's strong community support and the increasing demand for cryptocurrencies in general.

However, it's important to note that these are just predictions, and the actual price of Pi may vary depending on market conditions and other factors.

The minimum price prediction for Pi is $0.15, while the maximum price prediction is $0.20.

The average price prediction for Pi from multiple analysts is $0.18.

The price of Pi is expected to be influenced by several factors, including the project's development progress, the broader cryptocurrency market trends, and the level of interest from investors.

If Pi manages to integrate with major crypto exchanges and attract significant attention from institutional investors, it could experience a more substantial price increase.

However, if the project faces delays or encounters difficulties in expanding its user base, it might not achieve the optimistic price predictions.

Overall, while Pi shows promise, it's crucial to approach any price predictions with caution and conduct thorough research before investing in any cryptocurrency.