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Litecoin Price Analysis: Is the LTC/USD Price to Skyrocket Within a Few Days?

  • Vera Thornpike
    📈 Price Predictions

    Short-term Litecoin price prediction from TradingView experts: possible scenarios and trends


Litecoin Price Analysis: Is the LTC/USD Price to Skyrocket Within a Few Days?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Like its counterparts, Litecoin seems to be stuck in its price range of $30-35. Crypto pundits haven’t lost hope in LTC – all in all, this is Bitcoin’s younger brother, promising crypto with unique advantages. Do you want to bet on Litecoin, too? But how much it will cost in the nearest future and upcoming months? Is there a chance to open the never-ending circle of LTC price fluctuations?

The most reputable TradingView users have their own opinion.


Rodulfox: Positive changes are coming

The used nicknamed Rodulfox bases his analysis on RSI and MACD indexes. Since January 2019, the Litecoin price was resting with minor fluctuations, but there are two signals (2) and (3) showing that we should stay optimistic. MACD index signifies positive changes, but if the Litecoin volume isn’t enough to trigger its growth, we are likely to witness its crash. Market cap should be way higher than $1.9 bln.

MACD and RSI indexes are signifying positive changes
Litecoin price analysis from Rodulfox

MagicPoopCannon: LTC double bottom will serve as support

According to this user, recent Litecoin trends were positive: it got very close to the top of the downtrend channel, and now it starts breaking to the downside. However, if Litecoin follows the same pattern as BTC does, it will possibly decline by 30% from the current level and maybe even hold the double bottom. Most likely, we will still see the selloff now because the price sees the reject from the top of the downtrend channel. Is it bad news? MagicPoopCannon says:

“I think it is likely that the double bottom area of LTC could hold as support, and that could effectively be the bottom in the bear market, assuming the aforementioned deviations don't occur. Obviously, if the double bottom is lost, then the bottom of the downtrend channel or the [$]6-7 area would be the target.”

If the breakout doesn’t happen, Litecoin might nosedive to $6.7
MagicPoopCannon’s Litecoin price prediction

filbfilb: LTC double bottom is $20

With the prolonged crypto winter, investors have understood that things can be even worse, and probably crypto currencies haven’t reached the bottom yet. Wonder what will be Litecoin’s lowest low? According to filbfilb, Litecoin’s double bottom is somewhere at the level of $20, while the Bitcoin price should fall to $3K.

Litecoin price analysis from filbfilb – 2015 vs 2019
Litecoin can repeat the price pattern of 2015

The user is sure that Litecoin’s development pattern in 2014-2015 gives us a clue about what should happen next. Four years ago, Litecoin’s breakout was rejected, but the price started soaring a couple of months after (it was in March-May 2015). This time, the breakout is pending – things haven’t changed in January. Probably, changes in the LTC mining reward can kick things up. Interestingly, Litecoin shows Bitcoin what to do – last time, Litecoin’s breakout triggered Bitcoin growth 20 days later. This scenario is likely to repeat again.

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So, what should we hope for?

When it comes to cryptocurrency, nothing is stable and predictable, so we should be prepared for Litecoin to potentially reach the bottom and fall under $30 in a short term. However, it might mean the breakout. User RonVau analyzed the tendencies and confirmed that RSI and MACD show good signs. If Litecoin doesn’t fall too low, we might see LTC price hit $36 soon.

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Pump or Dump? BTC Price Analysis Is Interpreted in Two Opposite Versions


Pump or Dump? BTC Price Analysis Is Interpreted in Two Opposite Versions
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

One of the most extravagant crypto traders on YouTube, Crypto Kirby Trading, has come up with his own observation of Bitcoin price predictions and technical analysis. His notes give us a hint that there are two ways for BTC to go. What are they? Watch this YouTube video and check out which BTC price theories the trader has.

Head & Shoulders pattern – a bullish sign

Head & Shoulders bearish pattern cannot stay unnoticed – we can see it forming from the beginning of April until now. However, the right shoulder hasn’t formed yet, so the pattern should be confirmed – don’t rush to make conclusions.


What happened recently when BTC fell into the abyss? According to Crypto Kirby Trading, it was resistance short. Shorts got a little bit high, and they squeezed it. In fact, the recent squeeze didn’t bring us anywhere – it’s like nothing happened.

At the moment, BTC goes sideways and sees resistance. Judging by H&S pattern, the volume peak has been reached, and now we are under resistance line in the right shoulder. If BTC’s price suddenly goes up, the pattern will be invalidated.

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Pattern within a pattern

Which pattern has been taken by BTC? It depends on how you look at it! What do we have here?

Descending triangle pattern or an ascending triangle (a little bit longer term)? Both are possible!

There has been lot of speculation about these patterns – that’s the problem. So, we have two different triangles and H&S, three patterns at the same time. If the H&S or descending triangle get validated – BTC is expected to go down to $5,000 and further into the abyss.

Take a look at the chart. We are still trading below the key resistance in the red box, and the rest of indicators still look bearish. We haven’t been trading so low since February 2018! That’s why it’s hard to believe that we will pump.

According to Crypto Kirby Trading, the $6,000 resistance might be very hard to beat – the hardest in BTC history. Very unlikely that it will happen in the nearest time, but who knows?

So, what should happen?

Crypto Kirby Trading  reckons that the possible $4,500-$4,300 would be a better bottom to buy BTC even than at the winter level. However, you should be very attentive. We are testing the November 2018 levels, and it’s important to make proper adjustments here.

Currently, the volume has been higher than in the previous months, but it’s not promising – it seems to be declining gradually. If we go down, we will reach consolidation to resistance.

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What should happen for a dump?

If we move sideways without touching resistance, expect a bearish period, and we’ll continue adjusting the triangle pattern until it breaks. Confirmation of patterns is required – don’t rush to make conclusions yet.

One more thing signifying a possible dump is the Fear & Greed Index – 61, which means we can fall as it always occurs when we get greedy and want to squeeze maximum profit from the market.

What should happen for a pump?

For pump, we should break the red box ($5,750). We should test the top of the box as well as the H&S and reach new volume – we want this boom to happen and bring us to the top, don’t we? If that happens, opportunities can get insane because the bulls vs bears battle will be epic. We might get through $6,000-$7,000, but of course not without failing the first attempts to scratch the top – it always happens this way.

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