In Litecoin (LTC) Technical Analysis 2021, we use past statistics, price patterns, RSI, 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 CoinGecko, the Litecoin price is trading at $179.15 with a 24-hour trading volume of $2,830,777,150, at the time of writing. However, LTC has decreased by 2.57% in the last 24 hours.
Moreover, LTC has a circulating supply of 66,752,414.52 LTC and a maximum supply of infinity. Currently, LTC trades in Binance, Huobi Global, OKEx, ZG.com, and CoinTiger.
Litecoin (LTC) Technical Analysis 2021
The recent development and upgrades might push Litecoin (LTC) to reach new heights. Now, let’s deep dive into the Litecoin technical analysis 2021. The weekly time frame chart of Litecoin (LTC) is shown below.
The above daily frame chart shows the Symmetrical Triangle pattern. This pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline indicates the beginning of a new bearish trend. On other hand, a breakout from the upper trendline signal shows the beginning of a new bullish trend.
Litecoin (LTC) RSI, MACD, and MA
The below chart shows the Moving Average Convergence/Divergence (MACD) of LTC. Notably, the MACD (blue) continues to stay just below the signal indicator (orange line), nearing to make a crossover. This means that cryptocurrency traders can still expect more bearish days ahead.
In contrast, if the MACD begins to move above the signal indicator and performs a bullish crossover. Then the crypto has a high possibility of reaching new highs.
Now let’s look at the relative strength index (RSI) of LTC. As shown in the chart above, the RSI remains at level 40. This shows that LTCs price is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.
From the beginning of 2021, it is clear that the LTC price has shown many bullish patterns. Furthermore, taking all these into account, LTC could have a competitive market in 2021.
With the ongoing developments and upgrades that are taking place within the LTC platform. The cryptocurrency LTC has a fantastic future ahead in this crypto market. However, it is possible to see LTC reaching new heights.
Bullish LTC price prediction 2021 is $226. As said above, it may reach great heights, however reaching $500 if investors have decided that LTC is a good investment in 2021.
LTC is listed on many cryptocurrency exchanges that include Binance, Huobi Global, ZG.com, OKEx, and CoinTiger. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.
With the ongoing developments and upgrades within the LTC platform, it has the high possibility of reaching its ATH soon.
Litecoin is secured by strong cryptographic defenses making it practically impossible to break. It uses the PoW consensus algorithm to make sure transactions are confirmed quickly and without errors. The combined strength of the Litecoin mining network safe-guards double-spends and a range of other attacks, while making sure the network has 100% uptime.
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.
Recommended for You