Connect with us

Litecoin

LTC Price Prediction: Litecoin on the verge of a 30% price surge

Published

on

  • LTC price prediction shows the crypto asset is on the brink of a significant bull run after bypassing its $240 temporary swing high.
  • A 30 percent price surge is likely if Litecoin moves past its 3-day demand zone.
  • A 30 percent surge could push Litecoin towards the $280 price region.
  • Technical indicators show Litecoin is currently bullish, suggesting it’s an excellent time to buy.

During the recent crypto market crash, Litecoin, like many other cryptocurrencies, suffered heavily. However, it seems the crypto asset is on its road to recovery with signs of recording a significant comeback.

LTC Price Prediction: General price overview

During yesterday’s trading activity, Litecoin recorded a decisive close at the $247 region after recording a high of $248 and a low of $234. This came at a time Litecoin had recorded several price slumps in consecutive sessions. But it during Monday’s trading session, the crypto asset reversed this downward trend to kickstart a bullish momentum. Litecoin managed to rebound close to the $250 mark during Monday’s trading session as the crypto market roars back to life.

During Monday’s trading session, it appears Litecoin was on queue with Bitcoin’s colossal upturn. The sudden uptick was supported by JP Morgan’s report of launching a Bitcoin fund to its global customers later this year. Additionally, Bitcoin got support from unlikely quarters when Sean Culkin, an NFL player, states he would be transferring his whole annual salary into Bitcoin.

Recently, PayPal CEO stated that he was considering incorporating Bitcoin and other crypto assets in their payment portfolio following the gradual decline of fiat currencies. PayPal operates in more than 200 countries and transacts with more than 100 currencies.

Advertisement

LTC price movement in the past 24 hours

LTC Price Prediction: Litecoin on the verge of a 30% price surge 1
Source: TradingView

According to Litecoin’s daily chart, the crypto asset shows it managed to surge upwards above the recent $243 swing high. This price movement paints a bullish picture as it matches with the three-day demand zone. This demand zone ranges between $210 to $244. This communicates to potential traders because Litecoin is on its way to a 12 percent price surge towards the $285 price region. This price coincides with the 50 percent Fibonacci retracement level. If Litecoin manages to close the day above this resistance level, it will trigger a massive buying spree that will push its price upward by another 15 percent towards $330.

Recently, Litecoin’s Momentum Reversal Indicator highlighted a red one candlestick on its chart, indicating a price retracement might be close. Traders should prepare themselves for a reentry of Litecoin into the $285 support region following the prediction of the one-to-four candlestick correction. However, traders should expect a brief price pullback amid the coin’s bullish momentum.

LTC 4-hour chart

LTC Price Prediction: Litecoin on the verge of a 30% price surge 2
Source: TradingView

Litecoin’s 4-hour chart agrees with the bullish narrative. Litecoin holders holding more between 10,000 to 100,000 appear to be on the rise on its supply distribution model. Before, there were about 420 whales, but now there are more than 435. This is roughly a 3 percent increase, suggesting heavy investors are optimistic with the current bullish narrative of Litecoin.

Another significant technical indicator that validates the positive outlook of the crypto coin is the 30-day Market Value to Realized Value (MVRV) ratio by Santiment. This technical indicator is used to calculate the average profit or loss of holders who bought a crypto asset in the past 30-days. At present, this model shows Litecoin is still highly undervalued.

Conclusion

Although Litecoin is currently basking on the light of a bullish narrative from different technical indicators, the crypto coin has to settle above $218 for any upward movement to occur. Failure to do so could see Litecoin plunge lower trend line of the demand zone at $10 or $205.

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 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

Litecoin

Litecoin [LTC] Shows Off its Prowess as Bitcoin Silver becomes Biggest Gainer in Top-20 club

Published

on

litecoin-ltc

On Tuesday, the cryptocurrency market decided to swerve into the bull’s path taking the price along with it. Altcoins ruled the roost after a much-needed break from the bear that affected the entire ecosystem’s market cap. Charlie Lee founded-Litecoin [LTC] became one of the biggest gainers of the week after a new round of investments from users.

At the time of writing, the Bitcoin Silver aka LTC was growing by 4.2 percent on the back of a strong week. LTC was trading for $188.4 on Tuesday while holding a market cap of $13.004 billion. The daily trading volume spiked to $2.8 billion as other altcoins tried to emulate its performance. When LTC hit its all-time high this May, the community was confident of upcoming developments.

Litecoin 1 hour:

Litecoin
Litecoin [LTC] Shows Off its Prowess as Bitcoin Silver becomes Biggest Gainer in Top-20 club 4

As Litecoin’s immediate support remained near the $160 mark, the green candles continued their strong push. The graph showed signs of recovery after a low bearing September.

Relative Strength Index: Litecoin’s RSI climbed closer to the overbought zone, showing an increase in the number of HODLers.

Advertisement

Chaikin Money Flow: The capital coming into the LTC market shot up as prices settled. Litecoin investors reveled in the latest hike as capitulation was left in the dust.

MACD indicator: Litecoin’s bearish momentum at the start of October caused the signal line to touch the MACD line. The resurgence was enough to push the cryptocurrency over to the bullish side.

Litecoin 1 day:

ltc 1 d 1
Litecoin [LTC] Shows Off its Prowess as Bitcoin Silver becomes Biggest Gainer in Top-20 club 5

Litecoin’s long-term performance was indicative of the market’s fluctuations, showing multiple crests and troughs. The long-term support has fallen to $106.4, a far cry from its earlier holds.

Relative Strength Index: Just like in the hourly timeframe, LTC’s graph sporadically moved in the upward direction.

Advertisement

Chaikin Money Flow: Getting capital intensive was a struggle for LTC but the latest marker was a step in the right direction.

MACD: The signal line and the MACD line moved upwards after converging during the past week. Even the MACD histogram ticked green for a sustained period of time.

News Source

Advertisement
Continue Reading