LTCUSD (Litecoin) – Week 21 – Watch the decision zone

Blockchain analytics firm, Glassnode noted a dramatic hike in the number of active Litecoin addresses since the beginning of 2021, indicating a rising demand for the crypto-silver. A very similar pattern was observed with Ethereum in terms of the number of active addresses compared to LTC.

Technically, same as Ethereum, we broke the blue trendline and we find ourselves in a downtrend on the bigger timeframe. On the smaller timeframe (4h) we see a move to the upside to reach the resistance area marked on the chart.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.