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Litecoin Undergoing Significant Upward Trend, LTC Price Primed To Hit Above $760 Very Soon!

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The year 2021 was no less than a roller coaster ride for many crypto assets. As most of the altcoins surged and plunged with notable margins. Yet, Bitcoin’s brother Litecoin maintained a steady approach without extreme pumps or dumps. Currently, the LTC price is attempting hard to break the prolonged consolidation and ranged close to its ATH at $412.96. 

Litecoin in recent times has been heavily consolidating, probably from May that changed slightly from July. Yet in the past couple of days, LTC price experienced a major push due to an increase in liquidity. And hence the LTC price could range above $265, gaining more than 205 to mark a 6-month high. Yet the rally appears below its halfway as the target is far ahead of its current ATH. 

ltcprice
Source: Tradingview

The asset in the previous bull run in 2018 had surged more than $350 but dipped profusely. However, the asset went completely parabolic to hit a little higher at $412 during the current uptrend. The chart since the 2018 rally shows the price forming a huge cup and handle pattern. To complete the pattern, the price may test the lower levels around $170 before propelling high. 

The asset needs to range high to hover around $356 in order to test the neckline of the pattern. A successful breach through these levels may ignite a mega rally that may propel above $500. In an extreme bull rally, the LTC price may also smash the target beyond $700 to $750 within this bull run. 

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Therefore, for months together, LTC price trended within a very small margin and hence could not attract stronger hands to its platform. And hence despite being the first altcoin still in existence, Litecoin remains the most undervalued asset ever compared to Bitcoin or Ethereum.

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Litecoin(LTC) Price Trending In The Buy-Zone! Is It Good Time To Accumulate?

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Litecoin, the lite version of Bitcoin, and the first altcoin which is still in trade are slowly ranging high with making noise. After a gigantic drop during the May crash, the LTC price seemed to be too calculative in order to pull the next leg up. And hence the asset is following a specific pattern and with this structure, Litecoin price may regain its lost positions pretty much close to its ATH at $417. 

The asset despite being one of the most primitive crypto assets remained silent for a pretty long time. And ever since the altcoins rally was ignited in the first half of 2021 that led the price to form a new ATH. Further, the asset slumped multiple times, but yet sustained above the strong support level.

The LTC price as mentioned in the above chart is pretty clear about the upcoming jump. The asset spike in between a minor consolidation each time. While the surge percentage is pretty huge, the consolidation fuels up the asset to move with high with notable margin. The LTC price after a gigantic surge accumulates for a little prolonged period and sets up a massive leg. Further to nullify the exhaustion, the asset also experiences a minor correction. 

 Currently, the asset is consolidating after surging towards the monthly highs. And hence according to the pattern, a notable drop close to the immediate support levels around $150 appears to be on track. However, the LTC price is pre-programmed to flip the downtrend and march towards its ATH just above $300. And hence Litecoin especially known for its calculated move could smash considerable highs and also minimize corrections remarkably. 

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Litecoin price analysis: LTC hovers above $200. Is LTC consolidating?

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  • Litecoin price analysis is bearish today.
  • Support for LTC is present at $216.
  • Resistance is found at $226.8.

Litecoin is again covering the downwards range as a decrease in price is observed today. The selling pressure has triggered again, and the bears have taken over the price function. The selling activity has affected the price, and more devaluation might be ahead.

The LTC/USD is overall sustaining its value above the $200 psychological mark after going through severe damage from 15th to 18th November when the coin was rejected from $280 and plunged down at $204. However, LTC managed to stop further slippage and seems like it is in a consolidation phase before it can rally again in the next week

LTC/USD 1-day price chart: Bears ruling the charts

The 1-day Litecoin price analysis shows the price has decreased from yesterday’s price cap of 223. Today the LTC has traded in a range of $225 to $217 so far, and at the time of writing, the LTC/USD is trading hands at $219.72 exactly, but it is expected that the price will go further down, as the selling pressure is already there and after 18th November LTC is following a zigzag price pattern which looks like a consolidation pattern. LTC has lost 0.13 percent value over the last 24 hours, but it has also gained 7.82 percent value over the past week. On the other hand, trading volume has increased by 10.06 percent, and the market dominance is 0.57 percent.

Litecoin price analysis: LTC hovers above $200. Is LTC consolidating? 1
LTC/USD 1-day price chart. Source: TradingView

The volatility is also high, but the Bollinger bands show some degree of convergence, with the lower band covering more range upwards, while the upper band moves almost unchanged, hinting at the price to maintain its level on the broader spectrum and a rally upside may be observed in the coming days. The lower end of the indicator also suggests a support zone for LTC around $188 level, but on the flip side, the mean average of the indicator suggests a resistance level around $233 level for LTC.

The moving average (MA) is still below the price level at $216, but the price may step below the MA. And the relative strength index (RSI) has traveled down from the upper half to the lower half of the neutral zone; as the price stepped down to $219, the RSI has lowered to index 48.

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Litecoin price analysis: Recent developments and further technical indications

The 4-hour Litecoin price analysis shows the coin is on a downwards trend from the last 12 hours, but the major loss was observed during the last four hours. However, now the LTC seems on its way to retest the support present at $216.

Litecoin price analysis: LTC hovers above $200. Is LTC consolidating? 2
LTC/USD 4-hours price chart. Source: TradingView

The volatility on the 4-hour chart is mild, with the price trading below the upper Bollinger band. The upper band and the mean average of the indicator represent resistance and support for LTC/USD at $226 and $214, respectively. The moving average is above the price level at the $220 level now, and the selling activity seems to be slowing down now as the price oscillation is low, which hints at the entry of bullish support soon.

Litecoin price analysis conclusion

The Litecoin price analysis concludes the coin is depreciating today in its consolidation phase. The bullish support may step in soon as the downwards price oscillation has slowed down. But for LTC to rally high, it must break out above the $231 resistance level. On the flip side, if the downtrend extends and LTC break below $203, this may cancel out the bullish scenario.

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Litecoin (LTC/USD) forecast and analysis on November 26, 2021

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Cryptocurrency Litecoin (LTC/USD) is trading at 216.48. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator bars.

Litecoin (LTC/USD) forecast and analysis on November 26, 2021

As part of the Litecoin course forecast, a test level of 224.50 is expected. Where can we expect an attempt to continue the fall in LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 192.40. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator strip at 225.20.

Litecoin (LTC/USD) forecast and analysis on November 26, 2021

Cancellation of the option to continue the decline in the Litecoin rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the 230.50 area. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on November 26, 2021 implies a test level of 224.50. Further, the continuation of the fall to the area below the level of 192.40 is expected. The conservative area for selling is located area of ​​225.20. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 230.50. In this case, we should expect continued growth.

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