Connect with us

Litecoin

Litecoin price analysis: Litecoin retests $135 as support, prepares to move higher overnight?

Published

on

litecoin-ltc

Litecoin price analysis is bullish for today as the market retraced overnight and established a new base of around $135 support. Therefore, we expect LTC/USD to push high over the rest of this week to reach the $180 target next.

Litecoin price analysis: Litecoin retests $135 as support, prepares to move higher overnight? 1
Cryptocurrency heat map. Source: Coin360

The overall crypto market trades in the red over the last 24 hours. Bitcoin has decreased by 3.8 percent, while Ethereum around 2.5 percent. The rest of the altcoin market follows this pattern of slightly bearish results.

Litecoin price movement in the last 24 hours

LTC/USD moved in a range of $134 – $144, indicating a substantial amount of volatility. Trading volume has decreased by 6.7 percent and totals $1.7 billion. Meanwhile, the total market cap stands at around 9.1 billion, ranking cryptocurrency in 14th place overall.

LTC/USD 4-hour chart – LTC prepares to move higher again?

Looking at the 4-hour chart, we can see the Litecoin price retracing over the last 24 hours to retest the $135 previous resistance as support, which should lead towards further upside later this week.

Litecoin price analysis: Litecoin retests $135 as support, prepares to move higher overnight?
LTC/USD 4-hour chart. Source: TradingView

The overall market structure is still bearish over the past weeks after a steady retracement was seen from the previous highs around $200-$220. On the 22nd of June, LTC/USD set a substantial lower low at $105, from there, the market started heading higher.

The first swing high was set at $135 on the 25th of June. From there, LTC/USD set a higher low and moved higher to the $150 mark, indicating that bulls are building momentum to breach the next major resistance around $180.

Advertisement

Yesterday, we saw LTC/USD retrace lower again and retest the $135 previous resistance as support. Therefore, Litecoin price has established a base from which to start pushing higher again over the next 24 hours. This should lead towards another higher high above the $150 mark and further upside later this month.

Litecoin Price Analysis: Conclusion 

Litecoin price analysis is bullish for the next 24 hours as the market has retraced overnight and established a higher low, around $135. Therefore, we can expect LTC/USD to reverse back to the upside and start pushing higher over the next few days to the $180 mark.

While waiting for Litecoin to move higher, read our guides on DeFi advantages, Bitcoin fees, what you can buy with Bitcoin.

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