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Litecoin price analysis: Bullish LTC rises to $183 after a strong bearish collision

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  • Litecoin shows recovery after taking a dip.
  • Litecoin price analysis is bullish today.
  • Support is still stable at $181.
  • Resistance is found at $186.

The Litecoin price analysis shows the price is recovering well today. Bulls have gained the lead back today and are taking the price up again towards the lost glory. Bulls have recovered the price from $178.7 up to $183 today, covering a good upwards range.

The broader crypto market is recovering today from the strong sell-off of yesterday when Bitcoin crashed below the $60k range, and most top coins followed suit. Litecoin was also among the affectees and dropped from $198 to $178. Many different support levels set by the bulls previously crashed during the flash crash, but today bulls have found their way towards recovery, and Litecoin is recovering fast from the loss.

LTC/USD 1-day price chart: Price recover as bulls regain control
The LTC/USD price has increased today as per 24 hours chart for Litecoin price analysis, as the coin is trading hands at $183 at the time of writing. However, yesterday’s dip caused a significant loss in the cryptocurrency’s value as, despite the recovery, LTC still reports a loss of six percent over the last 24 hours and around 10 percent loss over the past week. The bearish collision also caused a decrease in market cap by 10.5 percent. However, the trading volume surged by 29.8 percent.

Litecoin price analysis: Bullish LTC rises to $183 after a strong bearish collision 1
LTC/USD 1-day price chart. Source: TradingView
The volatility is mild for Litecoin as the upper Bollinger band is present at $204, and the lower band is present at $169, making an average at $186 which represents resistance for LTC/USD pair. The moving average (MA) is trading above the price level at the $193 mark.

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The relative strength index (RSI) has come down into the lower half of the neutral zone and is trading at index 49 on an upwards curve. The RSI, though neutral, suggests overwhelming buying activity in the market, which has helped in improving the coin’s value.

Litecoin price analysis: Recent developments and further technical indications
The 4-hour Litecoin price analysis shows the bullish momentum is unbeatable, as green candlesticks are reappearing on the chart. The overall bullish momentum is not yet over.

Litecoin price analysis: Bullish LTC rises to $183 after a strong bearish collision 2
LTC/USD 4-hours price chart. Source: TradingView
The volatility indicators on the 4-hour chart show a considerable increase in volatility as the Bollinger bands show steep divergence, with the lower limit of the indicator at $179 is representing support for the LTC/USD pair. The RSI also shows improvement during the recent hours, as it has come up to index 40, and a further increase is also expected if buying continues at the current rate.

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The technical indicators for Litecoin price analysis have turned almost neutral from moving averages to oscillators, as nine technical indicators show buy signs and eight technical indicators show sell signs, and the remaining nine indicators stand neutral out of a total of 26 technical indicators. The neutrality is owing to yesterday’s crash following a strong bullish trend. The mix of both has made most indicators neutral, but the momentum indicator is towards the bullish side, which is one of the indicators that react early to any ongoing situation.

Litecoin price analysis conclusion
The Litecoin price analysis shows, the coin was bullish before the recent sell-off, and bulls are dominating the price function again, as the price is going upwards at a fast pace. Although the recent crash caused considerable damage for the crypto pair, traders can expect Litecoin to make a fast recovery as the coin is in strong bullish mode. Intraday traders can expect the coin to reach $188 soon.

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Litecoin And Solana Outperform Bitcoin-Based Investment Products in November

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It’s been just revealed that Bitcoin-based investment products are seeing some pretty strong competition these days for altcoin-based products.

This is what crypto data company CryptoCompare revealed recently.

The latest reports from CryptoCompare are out

The crypto data firm explained that the investment products based on Litecoin (LTC) and smart contract blockchain Solana (SOL) had better returns than those based on BTC over the 30-day period leading to November 19th.

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“BTC-based investment products were outperformed by Solana & Litecoin-based products, led by 21Shares’ ASOL (Solana-based product) and Grayscale’s LTCN (Litecoin-based product), which returned 22.0% and 14.9% respectively.”

The online publication the Daily Hodl notes that CryptoCompare says Bitcoin-based investment products recorded losses over the same period while products based on Ethereum and Solana registered profits.

“BTC-based products experienced losses over the last 30 days, ranging from -6% to -13% while ETH products saw gains ranging from 0.5% to 7% for ETH products. 21Shares’ ASOL ETN [Exchange-Traded Notes] experienced the largest gain at 22%…”

The very same notes also revealed that the level of assets under management (AUM) for Bitcoin saw a significant drop on a month-on-month basis while the AUM for other crypto assets surged.

“Bitcoin AUM fell 9.5% to $48.7 billion in November, its largest month-on-month pullback since July. Meanwhile, Ethereum and other cryptocurrency products saw their AUM rise 5.4% to $16.6 billion and 10.4% to $2.6 billion, respectively.”

Bitcoin adoption intensifies

The mass adoption of Bitcoin continues despite the multiple corrections that the digital asset has been seeing lately.

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Check out the latest report coming from Cointelegraph about this exciting move that has been made.

It’s been reported that Fintonia Group, a Singapore-based fund manager regulated by the Monetary Authority of Singapore (MAS), has launched two institutional-grade Bitcoin (BTC) funds.

The new funds are the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund.

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This is what Fintonia announced on Thursday.

“The funds are live and investors can subscribe and redeem regularly as they are open-ended funds, similar to a mutual fund. The funds are only available for accredited Investors.”

Keep your eyes on the market to see where the prices of the digital assets are going.

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Litecoin Forecast November 29 — December 3, 2021

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Litecoin LTC/USD ends the trading week at 194.81 and continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines again. This indicates pressure from buyers of the digital asset and a potential continuation of the decline in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 185.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 335.05.

Litecoin Forecast November 29 — December 3, 2021

An additional signal in favor of raising the LTC/USD quotes in the current trading week November 29 — December 3, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the area of ​​145.05. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 95.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 245.05.

Litecoin Forecast November 29 — December 3, 2021

Litecoin Forecast November 29 — December 3, 2021 implies an attempt to test the support area near the level of 185.05. Then, continued growth to the area above the level of 335.05. An additional signal in favor of an increase in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of ​​145.05. This will indicate a continued decline in cryptocurrency with a target below 95.05.

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Litecoin and an Ethereum Rival Outperformed Bitcoin-Based Investment Products in November, According to Crypto Data Firm

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Bitcoin (BTC)-based investment products are facing strong competition from altcoin-based products, according to cryptocurrency data company CryptoCompare.

The crypto data firm says in a new report that the investment products based on Litecoin (LTC) and smart contract blockchain Solana (SOL) had better returns than those based on BTC over the 30-day period leading to November 19th.

“BTC-based investment products were outperformed by Solana & Litecoin-based products, led by 21Shares’ ASOL (Solana-based product) and Grayscale’s LTCN (Litecoin-based product), which returned 22.0% and 14.9% respectively.”

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CryptoCompare says Bitcoin-based investment products recorded losses over the same period while products based on Ethereum and Solana registered profits.

“BTC-based products experienced losses over the last 30 days, ranging from -6% to -13% while ETH products saw gains ranging from 0.5% to 7% for ETH products.

21Shares’ ASOL ETN [Exchange-Traded Notes] experienced the largest gain at 22%…”

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The report also highlights that the level of assets under management (AUM) for Bitcoin saw a significant drop on a month-on-month basis while the AUM for other crypto assets surged.

“Bitcoin AUM fell 9.5% to $48.7 billion in November, its largest month-on-month pullback since July. Meanwhile, Ethereum and other cryptocurrency products saw their AUM rise 5.4% to $16.6 billion and 10.4% to $2.6 billion, respectively.”

The decline drives Bitcoin’s market share as a percentage of the total crypto assets under management fall month-on-month from 73.7% to 70.6% in November.

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