Connect with us

Litecoin

LTC Price Prediction: Litecoin brewing to retreat to the $150 region

Published

on

  • LTC price prediction shows the number 9 crypto asset has suffered another hurdle at the $200 mark, opening the current price dip door.
  • Support at the 200 Simple Moving Average on the 12-hour chart could stop the ongoing bearish trend, setting up LTC for a recovery.
  • Bears having a field day as Litecoin’s recent ascending channel fails to surge at the x-axis.

Over the past few days, LTC has been making positive price movements, adding to last week’s bullish trend. Despite the impressive run, Litcoin seems to be losing upward momentum close to the $200 mark.

During today’s trading session, Litcoin failed to bypass the $200 key hurdle point, pushing its valuation under the $200 mark. Although Litecoin is currently exchanging hands at $201 at the time of writing, it is standing on shaky ground, and its price is fluctuating downwards.

LTC Price Prediction: General price overview

Litecoin is roaming above the 200 Simple Moving Average on the 12-hour chart at the time of writing. According to Litecoin’s most recent price rejection, the number 9 cryptocurrency failed to realize an impressive 24 percent price surge.

Despite this rejection, Litecoin has another chance to bounce back and realize new milestones if it manages to settle above the 200 Simple Moving Average. However, other technical indicators insinuate Litecoin is in for a bearish season.

Advertisement

For example, Litecoin’s MACD technical indicator has started showing an increase in sellers’ dominance, reinforcing the bearish outlook. According to everyday market observations, if Litecoin’s MACD blue line intersects under the signal line, the crypto asset will be in for a severe bearish trend.

It is worth noting that if Litecoin cuts through the triangle’s hypotenuse, it might suffer a 25 percent downward trend that might push its price to $140.

LTC price in the past 24 hours

LTC Price Prediction: Litecoin brewing to retreat to the $150 region 1
Source: TradingView

According to the TD Sequential indicator on the 24-hour chart, Litecoin is currently on the verge of a selling spree. The signal to sell is brought to light by the green 9 candlesticks. This technical indicator validates that Litecoin’s bullish trend is losing momentum, and a correction might be on the offing.

If the current signals are anything to go by, Litecoin could be in for a massive sell-off season.

Advertisement

LTC’s 4-hour chart

LTC Price Prediction: Litecoin brewing to retreat to the $150 region 2
Source: TradingView

According to Litecoin’s 4-hour chart, the IOMAP model shows that the number 9 cryptocurrency is settling on top of vital support regions. This means Litecoin might avoid the downward trend positioned to take it to the $140 mark.

At present, Litecoin enjoys critical support areas at the $180 to $190 regions. Here, like it has been the norm, bulls should come in and facilitate Litecoin’s gradual recovery and consolidation. Previously, approximately 116,000 addresses purchased over 2 million LTC at the support areas of $180 to $190.

Conclusion

With Litecoin’s MimbleWimble (MWEB) upgrade set to go live on March 15, investors should prepare for a potential bull run. The current price slump might be a blessing in disguise, as it allows investors to buy.

However, the number 9 cryptocurrency needs to end the day above the $200 mark to initiate a potential bull run towards the first critical resistance level at $209. To realize this, Litecoin might require support from the broader market to breakout past the $205 mark.

Advertisement

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

News Source

Advertisement

Litecoin

Litecoin Forecast and LTC/USD Analysis October 22, 2021

Published

on

LTC/USD are traded at the level of 204.04 and continue to move as part of the rise and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $13,333,492,930. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the area of ​​190.55. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 245.55.

Litecoin Forecast and LTC/USD Analysis October 22, 2021

An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of ​​170.55. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 135.55. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will indicate a breakdown of the upper border of the downward channel.

Litecoin Forecast and LTC/USD Analysis October 22, 2021

Litecoin Forecast and LTC/USD Analysis October 22, 2021 suggests an attempt to correct and test the support area near the level of 190.55. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 245.55. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 170.55 area. This will indicate a continued fall in the cryptocurrency with a target below 135.55.

News Source

Advertisement
Continue Reading

Litecoin

Litecoin Forecast and LTC/USD Analysis October 21, 2021

Published

on

LTC/USD are trading at 198.05 and continue to move as part of the rise and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,182,763,662. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the area of ​​190.05. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 255.05.

Litecoin Forecast and LTC/USD Analysis October 21, 2021

An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of ​​165.05. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 125.05. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will indicate a breakdown of the upper border of the downward channel.

Litecoin Forecast and LTC/USD Analysis October 21, 2021

Litecoin Forecast and LTC/USD Analysis October 21, 2021 suggests an attempt to correct and test the support area near the level of 190.05. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 255.05. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 165.05 area. This will indicate a continued fall in the cryptocurrency with a target below the level of 125.05.

News Source

Advertisement
Continue Reading

Litecoin

Three Litecoin On-Chain Indications Show “Bullish” Data

Published

on

Litecoin holders are mostly in profit while whales stack more coins.

On-chain data provided by IntoTheBlock for Litecoin cryptocurrency shows three bullish indications for the coin simultaneously. The mentioned indications are net network growth, the number of addresses “in the money” and the concentration of funds.

Net network growth

According to provided on-chain data, the net network growth of Litecoin is currently up by 1.89%. The metric measures the change of the total number of Litecoin addresses.

Advertisement

Following the continuation of a positive trend on the metric, the number of Litecoin holders is significantly increasing, which also reflects on the coin’s trading volume—which has increased by almost 100% since the beginning of the month.

In the money

While the volume of funds for Litecoin is progressively rising, it is important for them to remain “in the money,” which means staying above the entry point on the market. Currently, 70% of Litecoin holders are remaining in the money, which is the average value for an asset moving in the uptrend.

IntoTheBlock Data
Source: IntoTheBlock

Only 18% of traders and investors remain at a loss in the current market. Twelve percent of market participants are “in the money,” which means they have either just entered the market or have been holding their positions open since September when Litecoin was trading for the same price.

Concentration of funds

The concentration of funds signals changes in the whale-tier positions on the market. While large addresses are stacking rather than spending funds, the metric is considered bullish. The absence of selling pressure on the market allows assets to move.

Advertisement
Litecoin Chart
Source: TradingView

While overall on-chain data is positive for Litecoin, it is most likely tied to the overall sentiment on the market, which remains bullish for both altcoins and Bitcoin. Cryptocurrency market capitalization has increased by $700 billion since the end of September and is continuously increasing.

News Source

Continue Reading