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Litecoin (LTC)

Litecoin’s [LTC] Buying Volumes Intact Despite Dull Price Action

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Litecoin [LTC] has been in a consolidation phase currently. The token has felt significant pressure owing to the market downside fell close to its crucial support region. However, the latest plunge by the market was a healthy market correction rather than a crash, as several tokens started their recovery shortly thereafter.

As for the broader cryptocurrency market, the figures jumped back to $1 trillion as Bitcoin and the altcoin bunch geared up for a fresh rally.

Litecoin [LTC] has been oscillating within a rangebound of $120 -$180 for the past couple of weeks. Despite a bullish start to the day, it was down by 4.61% over the past 24-hours and was currently trading at a price of $142.03. Furthermore, the crypto-asset registered a market cap of $9.45 billion and a 24-hour trading volume of $8.17 billion, at the time of writing.

Litecoin [LTC] Daily Chart:

LTC 1

As noted previously, Litecoin [LTC] closely followed a rising wedge pattern which was a clear indication of a correction as depicted in the above chart. The downward momentum was, however, weak, and the support level was found to have managed to hold the price of the token from a damaging plunge.

Litecoin was exchanging hands closer to its nearest support level, hence it is a crucial stage for the bulls to fight off the negative pressure in the market and hold the fort.

Technicals:

LTC2

Litecoin’s technical indicators do not appear to be wildly optimistic in the coming days. The converging Bollinger Bands, for instance, does not show a period of volatility in the near-term and indicated a rather inaction in terms of price movement.

The MACD formed a bearish crossover below zero depicting a weak negative sentiment with the potential to flip on the other side.

The RSI fell from the overbought zone and touched the 50-median line twice depicting a buying pressure in the crypto market.

Litecoin might very well consolidate for a few more days before exhibiting a definite breakout pattern. If the bulls manage to outpace the bears, LTC could target its neares resistance points of $177, $210, and $256 respectively.

Meanwhile, crucial support levels for the crypto-asset were found at $134, $101.2, and $69.6.

Litecoin [LTC] To Buck Up After Enduring Huge Loss

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All the assets seemed to be recovering from yesterday’s carnage. Bitcoin [BTC], Litecoin [LTC], and even XRP were seen surging after a brief setback. Bitcoin’s fall from $40K all the way down to $30K had got investors trembling in fear. However, several in the industry went on to urge individuals to buy the dip. At the time of writing, Bitcoin was back from its detour as it was priced at $36K. While all the coins were getting back on track, the global crypto market cap seemed to be surging slower than expected.

Litecoin [LTC] Market Analysis

Litecoin was seen making good use of the latest bull run. Yet, the digital silver did not get anywhere close to its all-time high. The asset tried hard to hit $200, but it went up as high as $185.58 and had a big fall. During press time, the altcoin was trading for $144.61 with a 1.70% rise in its price over the last 24-hours. The asset’s position as the sixth-largest cryptocurrency remained intact as its market cap was noted at $9.62 billion.

Litecoin [LTC] One-Hour Price Chart On Binance

Litecoin

The volume in the LTC market was quite low compared to the last two days. The latest crash in the crypto market forced the altcoin below a strong resistance line at $122. The one-hour price chart of the altcoin revealed that the latest setback was nothing but a dainty hurdle as the bulls had been residing in the LTC market. The 100 daily moving average [Red] was well below the 50 daily moving average [Blue] which is considered a bullish crossover.

Litecoin [LTC] Price Chart With Key Indicators

Litecoin

The Bollinger Bands indicator suggested that the LTC market was in for an increase in volatility as the bands were moving wide apart after recently coming closer. The MACD indicator affirmed that this change in volatility could aid the coin’s journey to $200. The MACD line overtook the signal line, yesterday welcoming the bulls and ousting the bears.

XRP Makes Way For Litecoin As The Fourth-Largest Asset; Grayscale Kicks Out XRP From Its DLC Fund

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The crypto-verse has been closely spectating the movement of Bitcoin. XRP seems to be the only asset enduring a loss during the ongoing bull run. The crypto industry is so close to hitting $1 trillion, but it appears like XRP wouldn’t be effectively aiding the process. The SEC lawsuit has almost destroyed the altcoin. Over the past few days, several crypto exchanges went on to delist the asset and the list isn’t getting any shorter. A few other members join the list as the asset slips off as the fourth-largest cryptocurrency.

XRP Loses Spot On Blockchain.com

The SEC’s $1.3 billion lawsuit against Ripple seems to have an array of repercussions as XRP has been losing its stance in the crypto-verse. After Coinbase, Bittrex, OKCoin, and several other lesser-known exchanges suspending trading of the asset, Blockchain.com revealed that it would halt trading of the altcoin from 14 January 2021. However, users of the platform will reportedly be able to send out the altcoin that they already have, but cannot acquire extra XRP.

Grayscale also followed suit and bid adieu to XRP. In a recent tweet, the platform revealed its Quarterly review for the Digital Large Cap [DLC] Fund. Grayscale’s DLC entailed other crypto-assets like Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH] as well as Litecoin [LTC]. But XRP didn’t seem to make it to the list. The tweet read,

In a recent press release, Grayscale further affirmed that it would “temporarily” suspend trading for the altcoin starting from 15 January post 5 PM [ET]. Elaborating on the platform’s reason for removing the coin, the post read,

“According to the Fund’s documentation, during the Fund’s quarterly review, the Manager may determine to exclude a digital asset from the Fund’s portfolio even if it meets the Fund’s Inclusion Criteria, including, but not limited to, if the Authorized Participant does not have the ability to trade or otherwise support such digital asset.”

Earlier this year, the largest stablecoin, Tether [USDT] flipped XRP as the third-largest crypto asset. Now, Litecoin has overshadowed the asset and took over its place as the fourth largest coin with a market cap of $10.63 billion.

XRP

Litecoin [LTC] Hits A Ceiling; Possibilities For Deeper Correction Emerge

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The dramatic rise in Bitcoin has also triggered extensive gains for Litecoin [LTC] as it appreciated by more than 15% over the past week. The silver crypto has been in sync as Bitcoin rallied and has also noted a strong bullish price movement prompted by strong buying interest as seen in the recent weeks.

Litecoin was up by 1.81% over the past day which pushed its price to $151.98. The crypto-asset was registered a market cap of $9.92 billion and a 24-hour trading volume of $18.62 billion, at the time of writing.

The bulls have been in control for quite some time now. Will this trend undergo a reversal anytime soon, or is the price primed for more gains. Let’s take a look at the technicals.

Litecoin [LTC] Daily Chart:

LTC

Litecoin [LTC] has strictly followed the course of two upward sloping trendlines of an ascending channel pattern on the daily timeframe. The coin appears to have touched its ceiling price. As it established a local top, the coin could now reverse its course and anticipate a bearish breakout in the near-term.

As noted by the Fibonacci retracement, several interesting support points were drawn out that could be of importance for the coin. Litecoin could potentially target its immediate support level of $139. If it fails to hold this level, the price risks dropping to another crucial level of $112.

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MACD generated a strong buy signal as it formed a bullish crossover over zero after bouncing off following a correction. A move by the indicator into bullish territory can confirm that LTC was heading to make more gains in the coming days.

The OBV showed a consistent increase in volume as the price of the crypto-asset over the past several weeks. However, the RSI just hit the overbought zone which could imply a correction in the days ahead. As noted by the pattern formation as well as the overbought RSI, Litecoin could potentially witness a dip.

Having said that, it is highly unlikely that the coin would see a damaging correction. Besides, the coin found stiff resistance from the recently breached $161, hence the support levels to look out for were $139 and $112 respectively.

Litecoin Takes A Breather As Prospects Of An Upside Break Seems Unclear

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Litecoin posted an impressive rally of nearly 25% over the past week as it crossed crucial levels. For the most part, the fifth-largest cryptocurrency has struggled with the $120-level, however, following the latest Bitcoin-inspired bullish swing, the previously crucial resistance has now turned support. However, the bearish undertone was visible as several altcoins noted pullbacks in the past day.

After a mild choppy start, Litecoin took a plunge of 2.23% over the last 24-hours which pulled the price down to $129.83. At the time of writing, the silver crypto registered a market cap of $8.41 billion and a 24-hour trading volume of $9.122 billion.

Litecoin [LTC] Daily Chart:

LTC 2 e1609244652414

Litecoin’s one-day chart suggested that the price was in a mega bearish rising wedge pattern. This formation could induce a price break to the downside triggering a potential retest to lower levels. But if the daily moving averages are considered, the overall sentiment was found to be bullish.

An important aspect to consider was the movement of the 50 DMA [Pink] which moved upwards in tandem with the rising price candles and despite several corrections, it had failed to move above them. The rising gauge with respect to the 200 DMA [Purple] further validated a bullish sentiment.

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On a cursory glance, the technicals depicted a bullish outlook. But there was more to the picture. The OBV indicator showed strong yet consistent volumes behind the current positive price action. However, both the RSI and the Stochastic RSI depicted a bearish divergence creating an overbought reading followed by a lower high that matched corresponding higher highs on the price.

As depicted by the above charts, on a relatively lower timeframe the bullish hint continued, even as the price formed a bearish rising wedge pattern. However, over a higher timeframe, the price did not look promising meaning that Litecoin has topped off and was heading for a downtrend in the coming days.

Important target points for Litecoin stood at $145.3 and $168 respectively if the bulls manage to cut through the downward pressure. In addition, the support level for the coin stood at $102.4 and $71.84.

Litecoin [LTC] Spots Bears In Its Market; Is The Altcoin Heading Below $100?

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Bitcoin had once again walked beyond $23K. Except for this time, it did not take many on its journey to the top. Litecoin [LTC] and Monero [XMR] were seen grazing with the bulls as both these assets were surging while almost all the other assets were descending. XRP had everyone even the SEC looking at the asset after it slumped by 10%. The crypto community was gearing up for a bigger shock as the altcoin was falling by 30%, at the time of writing.

Litecoin was living up to its name of being the lighter version of Bitcoin as it was in sync with the king coin. The asset was seen rising by almost 6% during press time. Litecoin was priced at $109.89 while its market cap stood at $7.13 billion. The digital silver had recently taken over Bitcoin Cash as the fifth-largest cryptocurrency. 

Litecoin [LTC] One Hour Price Chart

Litecoin

The latest short-lived bull run had definitely helped LTC push its boundaries. After a long stay below $100, the altcoin found a way to rise all the way up to $125. At the time of writing, the volume of LTC in its one-hour price chart was not too high or too low. The daily moving average indicator seemed to be delivering the existing emotion in the LTC market. The 50 daily moving average [Blue] was above the 100 daily moving average [Yellow] which suggested the presence of the bulls.

Litecoin [LTC] Price Chart With Key Indicators

Litecoin

The indicators used in the short term price chart of Litecoin gave out a sense of mixed sentiments. While digital silver was enjoying its stay in the bullish realm, certain indicators gave the asset a glimpse of its fate. The Parabolic SAR indicator was done blocking any downward breakouts, the indicator laid out dotted lines above the candlesticks and shielded any possible chances of an upward breakout. The Relative Strength Index indicator suggested that there was neutrality in the market in terms of buying and selling activity. The Awesome Oscillator was following suit of Parabolic SAR as it formed red closing bars, which insinuated the presence of bears.

Litecoin [LTC] Could Eye $120 As Bulls Continue To Graze In Its Market

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The entire crypto market was painted green with almost every coin recording a surge. Litecoin [LTC], Binance Coin [BNB], Polkadot [DOT] as several others were seen on an uphill journey. Bitcoin was once again seen trying to break its recently achieved all-time high of $23,6642.66. During press time, the king coin was trading for $23,130.05. After achieving exponential growth throughout the week, XRP was seen taking a break as it was dwelling with the bears.

Litecoin [LTC] was undoubtedly in sync with Bitcoin’s price movement. The digital silver turned several heads after surging past $100. At the time of writing, the asset was trading for $112.88 with a 4.01% surge over the last 24-hours. LTC was the star of the latest bull run as it managed to bag gains of over 48.22% in the course of the past week.

Litecoin [LTC] One Hour Price Chart

Litecoin

The one hour price chart of Litecoin [LTC] had formed a symmetrical triangle pattern. The pattern was laid out by an upper trend line which consisted of lower highs at $112.05, $110 as well as $108.91. This was followed by higher lows at $102.50, $105.52, and $105.71 formulating the lower trend line. The direction of breakout during this pattern is usually uncertain, however, the indicators used in the chart revealed the fate of the asset.

The daily moving average indicator pointed out a bullish sentiment in the LTC market. The 50 daily moving average [Blue] was seen lounging above the 100 daily moving average [Red]. This crossover is noted to be a bullish one.

Litecoin [LTC] With Key Indicators

Litecoin

In the price chart of Litecoin, all the indicators were pointing towards the bulls. LTC seemed to be packing for a long journey uphill. The Bollinger Bands indicator suggested an increase in volatility as the bands were seen diverging after a brief convergence. The MACD indicator also underwent a bullish crossover like the daily moving average. The MACD line was seen climbing above the signal line after its stay below the signal line for quite a while.

Litecoin [LTC] Could Destroy Resistance At $95 As Ongoing Bull Run Bolsters The Market

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Bitcoin’s journey to $22K left the entire world stupefied. The king coin made sure to take all the other coins, reserving special tickets for Litecoin [LTC], XRP as well as Ethereum [ETH]. Bitcoin [BTC] was almost unstoppable as the coin seemed to be stuck on hitting $23K. At press time, BTC was trading for $22,905.01 with an 18% rise. XRP seemed to be eyeing $1 as the altcoin was soaring by 23.01% over the last 24-hours. The global crypto market cap was also on a roll and was in sync with the ongoing sentiment. With a 13.91% daily increase, the overall market cap of the crypto-verse was noted at $643.45 billion.

Litecoin seemed to be closely following the footsteps of the king coin. LTC, at the time of writing, was priced at $94.14 with a 17.19% surge over the last 24-hours. Throughout the year, the coin was seen all the way down at the tenth position several times, however, the coin regained stature and rose up to the fifth place with a market cap of $6.15 billion.

Litecoin [LTC] One Hour Price Chart

Litecoin

$94 and $95 have been strong resistance lines for LTC, however, the ongoing bull run could help the altcoin break the latter. The pattern formed in the one hour price chart of the asset was pointing at the bulls. The ascending triangle pattern was identified by higher highs at $83.61, $91.17, and $94.81. Higher lows laid down the lower trend line at $81.66, $91.23 as well as $92.42. The direction of a breakout with the aforementioned pattern is usually upwards.

The daily moving average was seen grazing with the bulls as the 50 daily moving average [blue] was above the 100 daily moving average [orange]. This crossover usually indicates the presence of bulls in the LTC market.

Litecoin [LTC] With Key Indicators

Litecoin

All the signs were pointing at bulls for Litecoin. The key indicators used in the one hour chart of LTC were seen taking the side of the bulls. The Bollinger Bands indicator was seen wide apart, yet the bands were diverging which could indicate a decrease in volatility. The Awesome Oscillator indicator formed a green closing bar which suggested the presence of bulls in the LTC market.

Litecoin Faces Important Resistance; Battles Fresh Bullish Breakout Near $89

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Litecoin’s price continued to face resistance at $89 and was currently exchanging hands closer to this level. Despite hints of a breach, the bulls have failed to sustain the altcoin above this level. Whales were found to be offloading their as the coin reached a local peak.

Following the latest rejection, Litecoin fell by 1.65% over the past 24-hours which drove the coin’s price to $82.67. At the time of writing, LTC registered a market cap of $5.42 billion and a 24-hour trading volume of $4.15 billion.

What has struggled to push the price higher is the bulls buying the dips. Will there be any reversal in this trend?

Litecoin [LTC] Daily Chart:

LTC 1 e1607419902792

The daily moving averages settled below the Litecoin [LTC] price candles and appeared to be sloping upward side by side with the rising price trend. The 50 DMA [Pink] and the 200 DMA [Purple] have continued o maintain the bullish streak following a golden cross formation in October. The increasing gauge between the two DMAs was a testament to the bullish phase.

However, Litecoin’s technicals were found to project a weak bullish signal.

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The Klinger Oscillator, for instance, sustained a bearish crossover following the price drop. So far it has failed to flip positive and the reading line appeared to be sinking further below which was indicative of rising bearish pressure in the LTC market.

To top that, the RSI also fell back close to the 50-median line. Another important factor that cannot be ruled out is the movement of RSI above the median line in question. While the price did recover and climbed to the previously established high, RSI did not follow the trend. In fact, it halted a little above 50 before taking a plunge.

Meaning, if the RSI can break above the latest downtrend line, and bounce back, it could potentially switch favors to the bulls. Once the bulls gain an upper hand, Litecoin could eye its overhead resistance of $89.46 and $101.12 respectively. However, if bears manage to sink the price further down, LTC could target its nearest support levels of $79.5 and $72.1

Litecoin [LTC] Rallies Following Massive Setback

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Litecoin [LTC] saw a massive rebound from the support level of $69 as it swiftly climbed to challenge the recently retraced level. The rise of the fifth-largest token has been slow but steady. As the price level aimed for a positive, sustainable breakout, a case of a mild pullback cannot be ruled out.

Over the last 24-hours, Litecoin was up by 15.02% which drove its price to $90.08 as it held a market cap of $6.008 billion and a 24-hour trading volume of $8.042 billion, at the time of writing.

Winning the uphill battle to resistance at $80, Litecoin noted a successful recovery mission, and it appeared to be continuing its uptrend.

Litecoin [LTC] Daily Chart:

LTC e1606822405634

Litecoin’s [LTC] technicals look positive. Holding above the two moving averages has been a critical bullish indicator that the uptrend would continue in the near-term.

The 50 DMA [Pink] noted a minor slip following the correction, however, it was swift to maintain the diversion from the 200 DMA [Blue]. This trend was very much in tandem with the price and essentially evidenced the continuation of a bullish phase despite the setback.

Currently, the two moving averages formed crucial support levels for the coin.

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The dotted marker of the Parabolic SAR shifted below the ETH price candles following a short stint above them. This was indicative of the volatility in the coin’s price and the rapid shift in momentum.

The Chaikin Money Flow also climbed as the price rose which depicted the inflow of money in the ETH market after facing a massive negative reversal.

The above daily chart confirmed the selling pressure at $69.29. If the bullish pressure sets in, Ethereum [ETH] could see a surge to its crucial overhead resistance of $101, a level that was last seen during the bullish wave leading up to the coin’s halving event. If it manages to hit this level, a rally to another market at $116.

It is also important to note that Litecoin has been trading in a wave-like movement. Hence, traders eyeing short terms local highs could materialize which could drive the price to $69. 50 DMA, as well as 200 DMA, formed a crucial support level at $63.6 and $52.44.