Is it nonetheless a very good time to enter Litecoin (LTC)? On-chain metrics from intotheblock.com for Litecoin (LTC) and at press time present that 92% of holders are being profitable on the present worth with about 49% focus of enormous holders. The Litecoin community additionally maintains a tokeninsight ranking of “BBB”, which considers the community as secure at 98.1697%.
Though there’s a detailed correlation with Bitcoin at 0.84, the LTCBTC worth chart under reveals a rise in demand for LTC in opposition to Bitcoin on the time of this report.
Let’s analyze the demand and provide state of affairs for LTC on the LTCBTC and LTCUSDT worth charts.
Litecoin Value Prediction: LTCBTC Month-to-month Charts
Pairing the LTC in opposition to BTC, the above chart reveals an everyday bullish divergence from a month-to-month scale which additionally corresponds with an analogous bullish divergence on the weekly time, each occurring concurrently, and signifies large demand for Litecoin in opposition to Bitcoin into the approaching weeks.
Learn on as we uncover the numerous chart patterns and worth ranges driving the LTCUSDT crypto pair.
Litecoin Value Prediction: LTCUSDT Weekly Charts
A hidden bullish divergence formation mounted the LTCUSDT assist at $103.80 on 19 July ’21 earlier than transferring management to the bulls for a few 120% worth hike earlier than making one other correction.
The 27 September ’21 bear lure sample mounted larger assist [$129.70] worth above the $103.80 worth flooring adopted by a sequence of hidden inside bar candlestick patterns that lasted for an additional 5 weeks earlier than the value surge presently at play.
Litecoin Value Prediction: LTCUSDT Each day Charts
The Litecoin vs. USDT from the each day time-frame resumed the uptrend after an everyday bullish divergence on 28 September ’21 and sustained the uptrend by flagging a hidden bullish divergence on 27 October ’21 whereas the RSI prints larger values above level-25.
We anticipate to scale into the present uptrend after a worth pull-back which will likely be seen with RSI values hovering between level-25 and level-75 on the each day time-frame, or drop under level-25 on the 4HR time-frame.
Let’s transfer a step decrease to the 4HR time-frame.
Litecoin Value Prediction: LTCUSDT 4 Hr Charts
Oversold ranges on the 4hR time-frame have proved to be good estimates of the upper RSI values above level-25 on the each day time-frame as proven on the above chart, particularly 27 October 08:00 and 06 November 08:00.
Nevertheless, contemplating the current excessive volatility which will be seen with the RSI printing consecutive larger values above level-75, it’s protected to say that the approaching entry alerts will likely be triggered by oversold ranges on the 1HR time-frame, and never forgetting to put a stop-loss order at a protected distance under the entry-level.
The present bullish outlook throughout a number of time frames on the LTCUSDT crypto pair might final all by way of This fall ’21 because the LTC additionally sees larger demand in opposition to Bitcoin BTC, the primary crypto asset.
