Litecoin LTC/USD ends the trading week at 198.73 and continues to move within the growth and bullish channel, but now there is a rebound after updating the local maximum. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upwards. 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 145.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 305.05.
Litecoin Forecast and Analysis November 1 — 5, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week November 1 — 5, 2021 will be a test of the support line on the relative strength index (RSI). Now the values of the RSI indicator have risen to the level of 70, therefore, there may be a fall before the continued growth of the coin quotes. 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 95.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 55.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 255.05.
Litecoin Forecast and Analysis November 1 — 5, 2021 implies an attempt to test the support area near the level of 145.05. Then, continued growth to the area above the level of 305.05. An additional signal in favor of Litecoin’s rise 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 95.05 area. This will indicate a continued decline in cryptocurrency with a target below 55.05.
Litecoin Forecast and Analysis December 1, 2021
LTC/USD are traded at 213.10 and continue to move as part of the correction and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $15,021,648,366. Moving averages indicate a short-term bearish trend for Litecoin. Prices went up from 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 rise in the value of a digital asset and a test of the resistance level near the area of 215.55. Where can we expect a rebound down again and the continuation of the fall in the Litecoin rate with a potential target below the level of 175.05.
Litecoin Forecast and Analysis December 1, 2021
An additional signal in favor of a fall in LTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the downtrend. Cancellation of the coin falling option will be a strong growth in the value of the asset and a breakdown of the 245.05 area. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 285.05. With the breakdown of the support area and closing of quotations below the level of 190.55, we should expect confirmation of the development of a bearish trend for Litecoin.
Litecoin Forecast and Analysis December 1, 2021 suggests an attempt to correct and test the resistance area near the level of 215.55. Where can we expect a rebound and continued growth in the LTC/USD price to the area below the level of 175.05. An additional signal in favor of the fall in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the decline option will be a sharp rise and a breakdown of the 245.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 285.05.
Litecoin price analysis: Bulls rescue price above $212 after a swift upturn
- Price has improved up to $212 mark.
- Litecoin price analysis shows uptrend.
- Support is quite stable at $177.72.
The latest Litecoin price analysis predicts an upward trend for the day as a significant amount of recovery in LTC/USD value was detected. The bullish momentum is on the rise again as the buying pressure is increasing. Today, a successful climb to $212.11 was achieved because of consecutive bullish wins in the past week. Although the market was being led by the bears earlier, today’s trend has been relatively encouraging.
LTC/USD 1-day price chart: Price towers above $212.11 after upward strike
The one-day Litecoin price analysis shows a bullish trend as the market is going in support of the buyers today. The short-term trending line is also moving ascendingly now as the past week has been highly favorable for the bulls. Today, a significant rise in coin value was detected once again as the price reached $212 height. The moving average (MA) value, on the other side, is still at a relatively lower position, i.e., $207.70.
The Bollinger band average has declined up to $225.68 because of the previous downtrend. At the same time, the upper Bollinger band value has shifted to $273.64, while the lower Bollinger band has changed to $177.72. The Relative Strength Index (RSI) graph shows an upward curve with an average score of 48.74.
Litecoin price analysis: LTC value successfully tops $211 resistance after uplift
The bulls have been reigning the market for the past few hours as a consistent uptrend has been observed. The bullish curve marks a definite increasing trend as the price has been uplifted above the $211.25 resistance point. The LTC/USD value is now standing at $212.03 high after a remarkable recovery. If we talk about the moving average value in the one-day price chart, it is settled at the $203.79 position.
The volatility is tremendously rising, which on the opposite, is a negative indication regarding the future trends. The upper Bollinger band is now at $211.25 end, and the lower Bollinger band is present at $185.60 end present. The RSI curve is showing an upgrade in LTC value as well as the score has reached 61.48.
The technical indicators chart for LTC/USD gives a neutral hint regarding the market trends, as a constant variation in price movements has been observed. A total of 10 indicators are on the buying side; nine hands are on the neutral side, while seven are on the selling side.
The Moving Averages Indicator supports the bulls by giving out a buying signal. We can see that five indicators are standing on the selling mark, nine hands are on the buying, and only one indicator is on the neutral mark. The oscillators show a neutral trend once again as eight oscillators are on a neutral position, two oscillators are selling, and one oscillator is on the buying position.
Litecoin price analysis conclusion
The daily and hourly price charts display green candlesticks today as a considerable improvement in LTC/USD value has been detected. The price is now at $212.11, and further recovery can be expected if the buying rate increases. The hourly price prediction is also giving the lead to bulls because of the rapid rise in coin value in the last few hours.
Litecoin And Solana Outperform Bitcoin-Based Investment Products in November
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.
“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.
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.
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.