Litecoin Price Technical Analysis for 31/3/2015 – Bearish Control

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Litecoin has been bearish since finding resistance in March at 2.14. The 4H chart shows a market that made a price top around 2.00 when it fell below support at 1.97. Since the slide, the market has reached a low around 1.60. ltcusd has broken below the 200-, 100-, and 50-period simple moving averages (SMAs) in the 4H chart. Also, the moving averages have shifted from sloping up with bullish alignment to sloping down with bearish alignment. (Bearish alignment = 200- above 100- above 50-period

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