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Litecoin (LTC) is a mess – their roadmap is literally non-existent

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2016: Write roadmap & whitepaper

2017: Hype creation

2018: Cashing out and the great disappearance

This is how Litecoin was described in their own subreddit. Even funnier was the comment right above it that says Litecoin’s roadmap is literally non-existent because they forgot to renew their domain subscription.Current State Litecoin Roadmap_ _ litecoin

And that depicts the state of Litecoin the best. It is a project that has little going on for it, hovering around scanty $25 per coin.

LTC is like an abandoned legacy BTC fork that is carrying on by name recognition only, since it was one of the earliest forks. It is a 100% copy of bitcoin, brings zero innovation and the only the only reason LTC is still even on the map is because Charlie Lee talked Coinbase CEO Brian Armstrong into adding it to Coinbase.

Brian threatened to add new coins to light a fire under Core to scale bitcoin. He only planned to add ETH. But Charlie was working at Coinbase and got LTC added too. Then we had a bull run where millions of uninformed people swarmed into crypto and saw LTC on Coinbase. That’s literally the only reason this coin is still even on the map.

Litecoin does nothing to contribute any value to the cryptocurrency world. This is directly from the mouth of litecoin holders and insiders:

When you read this, the first thought that comes to mind is do we really need a $1.8 billion testbed for bitcoin? Where is the value that litecoin brings to the table. It is ok to take parts of other people’s code when it is open source, it is a common practice among developers. But to simply sit and wait for other people to do the work and just port it onto LTC is paragon of parasitism.

Here is another very detailed essay on Litecoin by Multicoin Capital, they too see no real purpose for LTC’s existence.

Charlie Lee pops out occasionally with some light comments, no firm and in-depth explanations what are they up to, but rather some spirit lifting buzzwords about bears, bulls, patience and so on. Litecoin is pointless and just like it lead the ascend of the questionable altcoins back in the bull-mania, it will slowly lead the way to the graveyard for those same altcoins.

Source: captainaltcoin

Litecoin

Litecoin (LTC/USD) forecast and analysis on September 15, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 68.86. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Litecoin (LTC/USD) forecast and analysis on September 15, 2019

As part of the Litecoin exchange rate forecast, a test level of 67.50 is expected. Where should we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 72.80. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 67.50.

Litecoin (LTC/USD) forecast and analysis on September 15, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​65.20. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on September 15, 2019 implies a test level of 67.50. Further growth is expected to continue to the area above the level of 72.80. The conservative area for buying Litecoin is located area of 67.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 65.20. In this case, we should expect the continuation of the fall.

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Litecoin could start its road to recovery if it breaks out of the parallel channel

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Weeks after breaking into its Death Cross, Litecoin is looking more bearish than ever. The fifth-largest cryptocurrency on the market is trudging downward yet again, looking to sustain below the $70 range after breaking above for a brief period earlier this month.

Short Term:

Source: Trading View

In terms of the short term 1-hour chart, LTC bears are periodically drawing the price down forming a descending triangle. With lower highs placed at $72.32, $71.89, and 68.96, while the base has been laid out as the support level of $68.44 which the current price is struggling to stay above.

Litecoin dipped below the aforementioned base on 1600 UTC on 13 September, which was seen as the slump that could propel a major collapse. However, despite a 2 percent dip in 3 hours, the price managed to climb back up over the $68.44 base by 2300 UTC on the same day. The recovery was short lived as the top of the triangle acted as yet another resistance which the price bounced off. At press time, candlesticks are veering toward the end of the triangle, signalling either a breakout over the declining resistance or a fall below.

To accompany a positive move out of the triangle, volume will have to assist LTC. The cryptocurrency’s volume as well as Relative Strength Index [RSI] is not holding up well, Still locked at 48.55 and moving in a parallel channel, a move out looks unlikely.

Long Term: 

Source: Trading View

Looking at the wider picture, Litecoin continued to languish within the downward parallel channel. Beginning in June, the four-month old channel was initiated when Litecoin was at its 2019 peak of over $144. Since then, the price of the coin has dropped by over 52 percent, with each decline encapsulated in the channel.

On three occasions, the coin tried to break out of this channel, however, each time the price dropped, and the same was accompanied by a more severe decline. Lower high as littered in the channel, placed periodically at $137.41, $106.41, $89.92, and several within the $70 – $80 range.

The only positive sign for Litecoin is the fact that owing to the massive [relative] price burst seen on 7 September, which added 6.24 percent to Litecoin’s price, the coin is now testing the slanted resistance. If the price does not fall below $68 prior to the close of this weekend, Litecoin will escape the parallel channel.

On the trading health front, MACD indicator pointed to an overtake, and a good one at that, of the MACD line against the Signal line. If the same does hold, a move out could be more than likely, signalling a clawback for Litecoin.

Source:ambcrypto

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Litecoin (LTC/USD) forecast and analysis on September 14, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 69.31. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Litecoin (LTC/USD) forecast and analysis on September 14, 2019

As part of the Litecoin exchange rate forecast, a test level of 68.20 is expected. Where should we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 73.80. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 68.00.

Litecoin (LTC/USD) forecast and analysis on September 14, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of ​​64.70. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on September 14, 2019 implies a test level of 68.20. Further growth is expected to continue to the area above the level of 73.80. The conservative area for buying Litecoin is located area of 68.00. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 64.70. In this case, we should expect the continuation of the fall.

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