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Litecoin price analysis: Litecoin not ready to challenge the $160 mark

The price of Litecoin has been rising over the past week, breaking through the $160 mark for the first time in nearly 2 years. The price started this upward trend as the network experienced a surge of transactions at around the same time. The price then grew more steady as a result of a few positive community developments. The Litecoin Foundation recently announced that it had appointed former Google VP, Charlie Lee, to its board of directors. This brought to an end a two-year tiff between the Foundation and Mr. Lee over the proposed sale of Litecoin. At the same time, a Litecoin-based payment processor, LitePay, announced the launch of a new service. The Litecoin Foundation has been one of the key players

The week started off as expected, with the Litecoin price almost back to the $210 mark. But, then the overall market did not follow suit, and the Litecoin price fell to around the $200 mark. As such, the next few days hold a lot of expectation for the price to bounce back. Will it succeed? This is hard to say, as everything can happen in a day, so stay tuned.

Litecoin has been in a bit of a slump over the past two months or so, the price of the coin dropping from $185 to $156. In order to get it back on course the Litecoin Foundation is working on a number of upgrades to the Litecoin blockchain to address some of the key issues that have plagued the network over the past few months.

Summary of the situation

  • The price of Litecoin is expected to fall below $156.
  • The next support level is at $156.
  • Litecoin is facing resistance at $161.

After finally breaking through the $192 level, the Litecoin price was unable to continue its upward movement and dropped just below $157. Although the price currently remains just below $157, the downward pressure is very strong and the price could fall further in the near future if sales continue. The broad crypto-currency market has fallen over the past 24 hours, with most major crypto-currencies posting losses during the time frame. The major currencies that suffered losses were Dogecoin and BNB, which fell by -11.16% and -12.07% respectively. Meanwhile, Bitcoin and Ethereum are down -9.55% and -10.73% respectively.

Technical indicators for LTC/USDT

As for the technical indicators, the MACD is showing strong bearish momentum after yesterday’s bearish reversal. As the price movement stagnates, the size of the red histogram slowly increases and the indicator is back at -5.1. While both EMAs are currently moving lower, the 12-EMA is separating from the 26-EMA, showing increasing bearish momentum at the time of writing. The RSI is currently hovering in neutral territory just above the 32.00 mark and giving no signals. The indicator has been in the neutral zone for the past two weeks. The RSI has now made a jump into oversold territory, indicating increasing bearish sentiment at current price levels. The Bollinger Bands are currently wide, but will quickly converge in the near future as bears take over the market dynamics. The convergence of the bands suggests that the volatility of the Litecoin price is decreasing in the short term. Also, when the price consolidates below the centerline of the bars, the bars tilt downward into the following candles. Overall, the technical analysis on the 4-hour chart gives a sell signal, with 14 of the 26 major technical indicators pointing to a downward move. On the other hand, only three indicators are giving buy signals, indicating bullish momentum. Meanwhile, nine indicators continue to lag, supporting neither side of the market. The technical analysis of 24 hours shares this opinion and also gives a sell signal: 15 of the 26 indicators point to a bearish movement, and only two indicators point to a bullish momentum. Meanwhile, nine indicators remain neutral and give no signal at the time of writing.

What can we expect from the Litecoin price?

4-hour price chart from the trading viewpoint Traders should expect the Litecoin price to drop further towards the $156 support level, and traders can expect the price to drop further towards $154 if the bears show their dominance over the price action. Short and medium-term indicators also support a downtrend, and it will be some time before the Litecoin price can address the $170 level again. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The Litecoin price has been on a steady decline for weeks now. It started a month ago, when the value of the cryptocurrency was $175. Since then it has dropped by over $30 to a low of $134. It is currently trading at $144.9.. Read more about litecoin price history and let us know what you think.

Frequently Asked Questions

What will litecoin be worth in 2020?

Litecoin, the silver to bitcoin’s gold, has gained a lot of popularity in the cryptocurrency community lately, with its price soaring from $15 per coin to $50 in December, 2017. But as it turns out, Litecoin’s value is still dwarfed by bitcoin’s. Litecoin, the silver to bitcoin’s gold, has gained a lot of popularity in the cryptocurrency community lately, with its price soaring from $15 per coin to $50 in December, 2017. But as it turns out, Litecoin’s value is still dwarfed by bitcoin’s. Litecoin price is up more than 40% from it’s December low, but is it a value buy at the current price? LTC is an interesting cryptocurrency as it has managed to maintain its network and transaction speed since inception with only a handful of forks in its history.

What will litecoin be worth in 2022?

It’s been a rough year for Litecoin, yet it’s not too late to turn things around. The recent spike in Litecoin’s value could be a sign that the coin’s real value could be much, much higher than the market has realized. While the coin has lost a lot of value, it remains a good buy for a long term hold. If things take a turn for the worse, Litecoin could find itself back in the $100s. The current Litecoin price chart looks quite bullish, and has risen more than 300% since the beginning of the year. The reason behind this phenomenon is the upcoming release of Bitcoin’s Lightning Network, a development that was announced back in May. This will allow the Litecoin network to act as a much more efficient and cheap means of transferring Bitcoin, and the price of Litecoin will rise as a result.

Is LTC a good investment 2021?

The Litecoin price is currently hovering at around $160, and it hasn’t been able to break the $190 level for more than a week. This is not a good sign for its price as the market is currently in a bearish trend. A little over a year ago, Litecoin’s price shot up from $4 to over $40 in less than 60 hours. At the time, I stated that Litecoin was a small step toward wider adoption, and that a better-known cryptocurrency like Bitcoin would likely be the one to finally take over Litecoin’s place in the crypto world. While Bitcoin’s price remains strong, Litecoin’s price has dropped since its peak, and I believe the decline may be due to a number of factors that could be tied back to the Litecoin Foundation.

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