Is Litecoin (LTC) Ready to Pop? (Current Price: $47.75)

in litecoin •  3 months ago

Cryptos are on the rise again, with Bitcoin (BTC) reclaiming the $4100 level, and Ethereum (ETH) around $320.

But whats going on with Litecoin? It seems it just can't get going. 

Litecoin trades much differently than other coins. It seems to always have a large rally, then trade in a large sideways range until the next pop. 

I think we are getting close to that pop...

If LTC holds the major support line (The Red Line) on the 4hr chart above, and can break resistance around $50, I think we will have a substantial rally to new highs.  BUT...if volume does not come in with the rally, we will likely fall back to lower levels ($47ish) after the pop.

If LTC does not hold the major support line (The Red Line) on the 4hr chart above, the could be the start of a downtrend for Litecoin. 

My Prediction: I think we will hold the major trend, and the rally will come within the next week or so, let's hope volume follows to hold the new levels.

What are your thoughts?

Happy Trading!

Jason G


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  trending

I'm wondering if BCH is taking some of LTC's potential new money. Either way, I'm holding both. Nothing wrong with a little consolidation phase. Get your LTC now before it hits $50.

·

I think both BCH, and money chasing the BTC rally took away some potential cash for Litecoin. But LTC is currently trying to break through the $50 barrier, let's see if it pushes through.

·
·

It looks like it did push through!

·
·
·

that was quick! :)

I just converted some of my litecoin to Steem Power and Steem Dollars. That said, I own about 10 different assets.

Me as well think that LTC is better then BCH but people got it free that is why its got more value !!