Litecoin (LTC) Technical Analysis 2021 for Crypto Traders

Litecoin (LTC) Technical Analysis 2021 for Crypto Traders

In Litecoin  (LTC) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about LTC to analyze the future movement of the cryptocurrency. 

Litecoin (LTC) is a cryptocurrency that was developed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. Moreover, the crypto was created based on the Bitcoin (BTC) protocol, but it varies in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. 

Litecoin  (LTC) Current Market Status

According to CoinMarketCap, the LTC price is trading at $132.77 with a 24-hour trading volume of $1,923,678,121, at the time of writing. However, LTC has decreased by 3.46% in the last 24 hours. 

In addition, LTC has a circulating supply of 66,752,414.52 LTC. Currently, LTC trades in  Binance, Tokocrypto, OKEx, Bybit, and Huobi Global.

Litecoin  (LTC) Technical Analysis 2021 

Litecoin  (LTC) holds the 13th position on CoinMarketCap right now. The recent development and upgrades might push LTC to reach new heights. Now, let’s deep dive into the LTC technical analysis 2021. The weekly time frame chart of Litecoin  (LTC) is shown below.

LTC/USDT Ascending Scallop pattern (Source: Tradingview)

The ascending scallop pattern looks like the right half of an umbrella. It performs in both bull and bear markets, sporting a low break-even failure rate and a large average rise. This pattern appears to be in the shape of J, slightly tilted to its right. In ascending scallop pattern there can be a breakout in either direction, there is a chance of trend reversal and trend continual

LTC trades in a range of $132. If the price breaks the trend line then it falls to the support level of $95 and 25.

Litecoin  (LTC) RSI

The below chart shows the relative strength index (RSI) of LTC. 

LTC RSI (Source: TradingView)

As shown in the below chart, RSI remains at 52. This shows that LTC’s price is in a neither overbought nor oversold state. However, this shows that traders can trade fearlessly.

Litecoin  (LTC) RVOL

The below chart shows the Relative Volume of LTC. RVOL is an indicator that represents to traders how the current trading volume has changed over a period of time compared to the past trading volume.

LTC RVOL(Source: TradingView)

Notably, in the last week of June, it is found that the RVOL of LTC observed is weaker. Currently, the RVOL of LTC remains below the cutoff line which represents the weaker participants in the current trend.

Litecoin  (LTC) Moving Average

LTC’s Moving Average (MA) is shown in the chart below. Moving Average is a part of technical analysis that supports traders to find trends.

LTC MA (Source: TradingView)

In the 50 MA (Short-term), the price of the LTC is in a bearish state, and it has not broken the 200 MA. However, it will completely go to a bearish state. Currently, the price of LTC is trading below the 200 MA level so we can expect more bullish in upcoming days.

Litecoin  (LTC) Price Comparison With Bitcoin

The below chart shows the price comparison between LTC and BTC. 

LTC vs BTC Price Comparison chart(Source: TradingView)

From the chart we can identify the trend of the BTC and LTC is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of LTC also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the LTC platform. Litecoin  has a great future ahead in this crypto market. However, LTC can reach new heights.

Bullish LTC price prediction 2021 is $422. As mentioned above, it may reach great heights, however reaching $430, if investors have decided that LTC is a good investment in 2021.

FAQ

What is LTC?

Litecoin (LTC) is a cryptocurrency that was developed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. 

Where can you purchase LTC?

LTC is listed on many cryptocurrency exchanges that include  Binance, Tokocrypto, OKEx, Bybit, and Huobi Global.

Will LTC reach a new ATH soon?

With the ongoing developments and upgrades inside the LTC platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.