Connect with us
CLOSE

Litecoin News

Price Consolidation For Litecoin At $35, Breakout At $50 Possible

Published

on

price consolidation

A price consolidation for Litecoin at $35 is forming at the lower high pattern and higher low patterns as well are forming at $50 so let’s see what is litecoin doing to reach the new price level in the Litecoin price news.

The Litecoin price has been getting closer to the $35 range since the price crash that happened to most of the coins last week. The support was initially established at $25 and the recovery ensured a price level at $30 which failed to break the $40 resistance later. The lower high and higher low patterns forming over the past seven days, resulted in the formation of a symmetrical triangle pattern as we can see per the charts. In the meantime, the price consolidation phase in the $35 zone suggests that a breakout is in the picture and partnered with the triangle pattern which will likely launch LTC/USD into a $50 level trajectory.

The immediate upside of Litecoin’s price is restricted by the 50 simple moving average on the charts. Breaking above the $40 price level will boost the price further but the buyers should be heavily prepared to deal with the 100 SMA upcoming resistance. From a technical perspective, the Relative Strenght Index upward trend, from the 14.00 to levels above the 50 average shows that the bulls have major control over Litecoin for now. the volume remains low because of the skepticism regarding the Coronavirus pandemic. Most of the buyers don’t want to join the markets as more declines were correlated with the unstoppable virus.

Overall, the price of the asset dropped by 70 percent since February but the price seems to be moving sideways at the time of writing. What is litecoin doing with this price movement is hovering around $31.50 and forming an ascending triangle that will eventually end up in a bullish break. The four-hour charts for Litecoin showed a new formation of an ascending triangle with two bottom touches and the pattern will be eventually completed in about 72 hours leading to a further breakout. There is a mild bullish case forming as well but there are still chances for the price of the altcoin to breach lower if the overall market drops.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Litecoin News

Litecoin Eyes Potential Move Above $48: Price Analysis

Published

on

By

litecoin eyes
Litecoin eyes a serious potential towards the $48 price level after spending two weeks consolidating as we reported previously in the Litecoin news. What is Litecoin doing now to find stable support is gliding through the volatility that most of the stablecoins got hit by. After falling to as low as $25 back at the beginning of March, Litecoin bounced back dramatically and is now consolidating below the $40 resistance level. A further breakout above $40 could mean that an upcoming 20 percent rally to the upside can happen with $48 becoming the main target to the upside. The market is seemingly in a downtrend and there could be another sell-off and it can take Litecoin back to test the $27 level of support. Litecoin is one of the best-known cryptocurrencies that was created back in 2013 when it was worth less than $3. Just like any other cryptocurrency, Litecoin endured multiple turbulences with a series of bull and bear markets that take it to whole new highs and lows. The most important moment for Litecoin was back in 2017 when it rallied from about $4 to more than $415, marking a huge 10,000% return within the year. Since then Litecoin struggled to sustain a comparable amount of momentum and it fell short in the pursuit for a new all-time high in 2019 as it failed to break above the $150 level. A few analysts suggest that Litecoin could surprise many of the traders over the next year as it is reacting intuitively to Bitcoin’s halving event which was bullish for most cryptocurrencies. As the block rewards are getting halved, the miners have to ensure that overheads are met and this can be done once the prices double from what it was pre-halving. Currently, Litecoin eyes a new level despite the harsh market conditions. Recently, the YouTube show Magical Crypto Friends features Litecoin’s founder Charlie Lee and he discussed the Litecoin summit that happened in 2019. The show covered most of the important questions in the community from Litecoin acting as a store of value to new updates. Lee also noted that he was working on a privacy improvement for the project while the development team is working with the Mimblewimble protocol and Grim, to add the privacy protocol as an extension block:
 “We’re working with the Grim++ developers to add an implementation of Mimblewimble. It adds an extension block to the Litecoin main-chain. You can transact between chains to use enhanced privacy.”
`
Continue Reading

Litecoin News

Markets Remain Volatile As Litecoin Nears Another Price Crash

Published

on

By

markets remain
The crypto markets remain volatile and some analysts even warn that Litecoin could be nearing another price crash and Bitcoin could follow as it has done before. Let’s read more about it in the following Litecoin news. As the crypto traders tried to find patterns in the market environment now, many turn to altcoins because of their lower liquidity and they tend to be traded by more experienced traders. The analyst Benjamin Blunt believes that Litecoin could soon see another price drop according to his tweet:
‘’I like to use ltc as a gauge for the broader crypto market as I find it usually has a clearer structure. This rise the last few days feels like its been an ABC up and now printing a lower high at the 0.618, can't help but feel at least one more low down to 22-24 is on the cards.’’
If the predictions of the analyst come true, Litecoin could tank to the low 20’ while Bitcoin could soon follow. The curious relationship with Bitcoin that Litecoin has started in the early days of crypto adoption when the crypto markets had preferable conditions and they both worked in tandem. Litecoin’s movements were often seen as a price prediction for Bitcoin. As the markets remain volatile, Litecoin’s price has already swung quite dramatically in the past few days. The price is down by 2 percent in just a day and the decline is understandable since the profit takers are selling now to get to the rewards of yesterday’s gains. A lot has been made of the uniform movement from all of the coins within the crypto market. despite the major differences between the platforms, they all seem to have increased and dropped together. Before the stablecoins existed, the altcoins tended to move opposite of Bitcoin and the markets tend to move as one. The Litecoin critics have long claimed that the similarities it has with Bitcoin make it unnecessary which is another reason to fail. Litecoin, however, remained resilient and a bigger group of LTC advocates stood by the project. The founder of the project Charlie Lee even sold off his huge LTC stash but the altcoin still remains a speculator coin only used for trading. The altcoin advocates believe that the mass adoption of blockchain technology will lead some other platforms to seriously challenge Bitcoin for the number one position. Bitcoin, however, remains the most valuable coin and it has been more than three years since another coin was considered a threat to Bitcoin.
`
Continue Reading

Litecoin News

Litecoin Gains 10% Overnight, Finally Breaks Above $40

Published

on

By

litecoin gains 10%
If you have been wondering and asking yourself what is Litecoin trying to do lately, LTC finally has an answer. As it stands, the technicals behind the cryptocurrency show that Litecoin gains 10% overnight and is finally above the $40 mark. The altcoin news also show that the cryptocurrency market began the week on a good note, with a positive outlook as the price of gold rallies today. The top coins began to see small bullish signs late yesterday, which continued today and now we can see the trading pairs continuing to push in gains. The LTC/USD pair initially had 7% gains on the day, something that continued overnight and translated to 10% gains this morning. Now, Litecoin gains 10% but the profits can be extended as the day progresses and as LTC sweeps through the $40 area. If we take a closer look at the LTC/USD daily chart in the Litecoin news, we will immediately see that the blue psychological $40 area for Litecoin is now the closest resistance area. When it comes to support, the red horizontal positions are a little above the $34.50 areas and are also becoming prominent now. However, it is safe to conclude that as Litecoin gains 10% overnight, the support looks solid at $30 which is the realistic level. However, the bears may need to retake control of the price of the coin and will be pushed to that point. The long-term outlook for LTC/USD shows that the price trend for the asset is still down - at least until Litecoin (LTC) reaches the $44 area. Will the Litecoin gains today extend - and what is Litecoin trying to achieve today? This may be the most important question to ask right now. Based on the technicals that we are seeing, investors are getting confident about profits from Litecoin (LTC) but there is still word of advice to show caution. The price of LTC has a massive single-day percentage gain which won't hopefully wear off or decline today. During the last seven days, the gains were even higher and Litecoin added around 20% to its price. At the current price level, investors are happy with the coin and the position that it managed to reach.
`
Continue Reading

Litecoin News

What Is Litecoin Doing: Will LTC Hit $56 Soon?

Published

on

By

bitcoin price stabilizes as
If you are wondering what Litecoin is doing and how is LTC trying to push through its new levels, you are not the only one. In the crypto news today, we are focusing on this coin and how it performs after hitting the $83 all-time high in February 2020 and then dropping to $48 and then $31. Ever since the February high, Litecoin continued dropping and on March 12, it lost around 50% of its value. Another brief decline followed as the LTC price went down to touch the $25 area. At the time of writing, we can see that the sixth biggest coin is exchanging hands at around $33. Meanwhile, a lot of crypto traders from Twitter and TradingView are summarizing what is Litecoin doing and how (or if) it can start rising. The LTC price is currently at $35 with a 5% increase on the day. The path to $56 is what is expected from this altcoin next. According to the trader and founder of the Birb Nest, @crypto_birb, there is a LTC chart from a few days ago which is now viral in the Litecoin news. On it, he says that there are plenty of signs showing that Litecoin may reverse long-term soon. However, the analyst predicts that there will still be moments of bearish movements. https://twitter.com/crypto_birb/status/1239874545219182592 In another tweet, the crypto trader @CryptoCapo_ says that he believes the LTC/BTC pair will be bullish if it manages to break the trend line. Many are wondering what is Litecoin doing now and expect the altcoin to start rising. https://twitter.com/CryptoCapo_/status/1240231524030709760 The trader with a nickname 'transparent-fx' from TradingView also shared his opinion on Litecoin, expecting that the altcoin could potentially grow to the $52.29 - $56 zone from its current position on the LTC/USD chart. He says that this could happen if there is enough accumulation on the market. The analyst also offered a bearish scenario and said that if there is no accumulation, LTC may decline to $20 and then surge to the same zone between $50 and $56. As it stands, the market is not losing any value or volume today and is relatively stable, with Bitcoin (BTC) leading the way and going close to $5,500.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Price Consolidation For Litecoin At $35, Breakout At $50 Possible

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Price Consolidation For Litecoin At $35, Breakout At $50 Possible

ADVERTISEMENT

oasistrade banner

ADVERTISEMENT

300 250 - Price Consolidation For Litecoin At $35, Breakout At $50 Possible
FO710FC3F2305 1 - Price Consolidation For Litecoin At $35, Breakout At $50 Possible

ADVERTISEMENT

300 600 3 - Price Consolidation For Litecoin At $35, Breakout At $50 Possible

Trending Worldwide