Litecoin (LTC) Price Remains In Uptrend, Eyes Gains Above $60

Litecoin price corrected lower recently, but it found support near $52.00 against the US dollar. LTC remains in an uptrend and it could slowly rise …

Litecoin price corrected lower recently,but it found support near $52.00 against the US dollar. LTC remains in anuptrend and it could slowly rise towards $58.00 and $60.00.

Key Talking Points

  • Litecoin price is trading nicely above the$54.00 and $52.00 support levels (Data feed of Kraken) against the US Dollar.
  • There is a short term breakout pattern in placewith resistance at $56.50 on the hourly chart.
  • LTC price might dip a few points, but it islikely to climb towards $58.00 or $60.00.

Litecoin Price Analysis (LTC)

In the past few sessions, there were range moves in bitcoin, Ethereum, EOS, ripple, litecoin, BNB and other cryptocurrencies against the US dollar. The LTC/USD pair dipped a few points earlier this week, but it found support near the $52.00 level.

Litecoin Price Analysis LTC ChartLitecoin Price Analysis LTC Chart

Looking at the chart, LTC price tradedas low as $52.12 and later bounced back above the $54.00 resistance level. Theprice even broke the $55.00 level and the 100 hourly simple moving average.

A high was formed at $56.61 and later the corrected a fewpoints. It declined below the 23.6% Fib retracement level of the last wave fromthe $52.12 low to $56.61 high. However, it remained above the $54.00 support level.

Moreover, the 50% Fib retracement level of the last wavefrom the $52.12 low to $56.61 high acted as a decent support. At the outset,there is a short term breakout pattern in place with resistance at $56.50 onthe hourly chart.

Therefore, the price seems to be preparing for the nextbreak either above $56.50 or below $55.50. An upside break above the $56.50 levelmay open the doors for an acceleration towards the $58.00 and $60.00 resistancelevels.

On the other hand, if there is a bearish reaction, litecoinprice is likely to find a strong support near the $54.00 level. The next keysupport is at $53.60, below which LTC could revisit the $52.00 support. Overall,the price may dip a few points, but it remains supported above the $52.00 level.

The market data is provided by TradingView.

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Litecoin [LTC] Price Analysis: Bulls holds long-term advantage even as coin stagnates

The fourth leading crypto asset on CoinMarketCap, Litecoin [LTC], made a bull run following a brief foray below $55. Litecoin managed to be one of …

The fourth leading crypto asset on CoinMarketCap, Litecoin [LTC], made a bull run following a brief foray below $55. Litecoin managed to be one of the best performing digital assets in the top 10 coin list, at press time. On March 12, the price of LTC rallied to $56.32, gradually rising during the latter part of the day.

At press time, LTC held a market cap of $3.46 billion with a 24-hour trading volume of $1.50 billion. The coin’s price stood at $57.00, with a gain of 5.58%.

Coineal continued to account for a significant 8.5% of the coin’s 24-hour trading volume, via the trading pair LTC/BTC.

1-hour

Source: TradingView

LTC’s one-hour chart exhibited an uptrend from $46.00 to $52.36, and a minor downtrend from $47.81 to $46.58. The resistance for the crypto-coin was marked at $58.38. LTC was expected to breach the $60-mark as the support for the coin was found at $47.57.

Bollinger Bands: The mouth of the bands indicated stagnant price movement for the coin.

Awesome Oscillator: The closing bars of the indicator were red, indicating bearish price momentum for Litecoin [LTC].

Klinger Oscillator: The KO indicator underwent a bullish cross-over.

1-day

Source: TradingView

The one-day LTC chart noted an uptrend from $32.81 to $45.61 and a significant downtrend from $89.15 to $39.21. The immediate resistance for the silver crypto asset was marked at $67.69, while significant support was found at $31.57.

Parabolic SAR: The dotted markers were aligned below the candles, suggesting bullish price pattern for the coin.

Chaikin Money Flow: The CMF was above the zero-line, indicating that money was flowing into the coin market. Therefore, bullish price movement was predicted for LTC.

MACD: The MACD indicator also sided with the bulls as the MACD line was above the signal line.

Conclusion

The short-term indicators pictured a stagnant price for LTC, while the long-term indicators suggested a bullish course for the coin.


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Litecoin price (LTC/USD) revisits $57 following sharp Tuesday morning rise

The Litecoin price (LTC/USD) has recovered much of its Monday losses thanks to a big surge that occurred during today’s morning trading hours.
Litecoin price (LTC/USD) revisits $57 following sharp Tuesday morning rise

The Litecoin price (LTC/USD) has recovered much of its Monday losses thanks to a big surge that occurred during today’s morning trading hours.

The fourth-largest digital currency on the market had a disappointing trading session on Monday, as its price spent most of the day moving on a steady downward trajectory. The coin had one of its rare moments of positive price action in the early hours of the session, when it came within striking distance of the $58 mark. From its intraday high of $57.85, LTC gradually declined to a five-day low of $54.83, which it hit during the late afternoon session. The coin eventually finished the day at $55.42, well above its opening level of $57.19.

Today, the coin has taken a big step toward repairing the damage it suffered yesterday, but it had to overcome some poor early trading. During the opening hours of the session, Litecoin fell to as low as $53.50, according to data from digital currency tracker Coinmarketcap. However, the coin has since bounced back and even managed to revisit the $57 mark, thanks to a sharp price jump. At the time of writing, the Litecoin price was hovering around the $57 mark, having risen to as high as $57.26 earlier.

Meanwhile, Litecoin continues to enjoy strong market activity, even though it appears to be experiencing a notable drop in trading volume. Recent market data shows that around $1.68 billion worth of LTC tokens have changed hands in the past 24 hours. This suggests that today’s market activity has been subdued compared to Monday, when the coin posted daily trading volume of $1.8 billion.

In today’s trading, the Litecoin price stood at $56.97, as of 13:30 GMT. The digital coin has gained 2.8% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at nearly $3.5 billion.

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Litecoin (LTC) and Monero (XMR): Taking the Temperature of the Market

With Bitcoin finding resistance near $4,000, the technical focus needs to return to the leader of the recent up move: Litecoin (LTC). Bears reasserted …

With Bitcoin finding resistance near $4,000, the technical focus needs to return to the leader of the recent up move: Litecoin (LTC).

Bears reasserted themselves in Litecoin (LTC) just above $56. $56 is a resistance at the top of a pitchfork formation on the Coinbase chart (Figure 1).

Looking at Litecoin (LTC) on Bitfinex, there is a trend that has been useful in the past. That trend line holds the power of the resistance at $56 (Figure 2).

If Litecoin (LTC) can hold support near $52, that could be very bullish. If Litecoin (LTC) falls below $52 it could be a golden opportunity to buy a dip near $45. If Litecoin (LTC) was able to get back above $56, that could be very bullish.

One other sign of the health of the crypto market is Monero. $49.00 is a key support level. Assuming Litecoin (LTC) and Bitcoin (BTC) hold together, the dip in Monero could be a very good buying opportunity (Figure 3).

Bottom Line: Day traders want to be short at the top end of the ranges in Bitcoin (BTC) near $4,000 and Litecoin (LTC) near $56.00. While they have a point from a risk-reward point of view, we continue to see a Bitcoin (BTC) breakout as a distinct possibility.

There may be more than one way to play both the range trade and the next big future uptrend.

If you want to know how The Crypto.IQ Trading Desk is playing this. Join me in Crypto.IQ Trading Room.

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Litecoin (LTC) and Tron (TRX) towards the league of anonymous cryptocurrencies

Trading anonymously is one of the critical factors that attracting crypto enthusiasts to certain crypto coins, and with Litecoin (LTC) and Tron (TRX) …
Litecoin (LTC) and Tron (TRX) towards the league of anonymous cryptocurrencies

Trading anonymously is one of the critical factors that attracting crypto enthusiasts to certain crypto coins, and with Litecoin (LTC) and Tron (TRX) setting plans in motion to make transactions anonymous, an influx of traders are coming their way.

Through implementing Zero-Knowledge Succinct Non –Interactive Argument of Knowledge technology also known as Zk-SNARKs, Tron (TRX) will be joining the leagues Zcash (ZEC), Monero (XMR), and Verge (XVG) which have successfully integrated zk-SNARKS technology into their platforms. On the other hand, Litecoin (LTC) is working on getting Confidential Transactions (CT) technology implemented to upgrade its coin to be among the privacy coins available.

How the Technology behind Anonymity Work

To be able to achieve its primary goal of making transactions anonymous, Zk-SNARKs shield uses proof of construction algorithm to conceal the details of the deal. However, while it doesn’t reveal the details of the transaction, it enables the party involved to confirm the details.

On the other hand, when it comes to Litecoin (LTC), the MimbleWimbleprotocol will kick in and give Litecoin (LTC) its anonymity status by protecting confidential info and limiting concise of the transactions.

 Litecoin (LTC), the MimbleWimble protocol  Litecoin (LTC), the MimbleWimble protocol

Through CT only the receiver and sender will have access to some details of the transactions such as amount. Besides elevating Litecoin (LTC) to the league of privacy coins, MimbleWimble protocol will help upgrade LTC to full fungible status and further propel it to be regarded as money.

Tron (TRX) was placed by two rating agencies in the number one place as the current digital currency. Apart from that, the platform was preparing for an update and now with the status of anonymity activated, the Tron platform is expected to remain a prominent position.

On the other hand, the above developments are working in favor of the traders by leveling the playing field which will bring in a lot of competition between LTC and TRX with other top privacy digital coins. The competition will help improve service delivery among other things from the platforms.

In addition, while the developments will help merchants, they could also help boost Litecoin (LTC) and Tron (TRX) volumes since making their transactions anonymous will also act as a good marketing scheme for both TRX and LTC .

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