LTCUSD (Litecoin) – Week 42 – Bullish momentum
Litecoin is undeniably one of the oldest coins in the crypto-space. However, with the emergence of newer coins, this “blue-chip” crypto has been losing its relevance. The coin that once used to stand right next to Bitcoin has been struggling to cling on to its 15th position of late. Nevertheless, Litecoin managed to script history recently, by outpacing Ethereum on a particular front. As per data from Santiment, Litecoin just flipped the largest alt in terms of active addresses. At the time of writing, the reading of this metric was hovering well-above the 500k mark for both the coins.
Technically, Litecoin finds itself at the resistance area marked on the chart. For this week we expect a retracement that may reach the blue trendline marked on the chart and then a continuation to the upside. If the price stays above the trendline it has high probabilities of continuing to the upside.
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.
Technically, Litecoin finds itself at the resistance area marked on the chart. For this week we expect a retracement that may reach the blue trendline marked on the chart and then a continuation to the upside. If the price stays above the trendline it has high probabilities of continuing to the upside.
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.
