Litecoin is setting itself for some heavy upside to 1,114Are we priming for another Crypto Summer.
Across the board is showing strong upside to come for all - ETH, BTC and even Litecoin.
⚡ Faster, Cheaper BTC Alternative
Litecoin still delivers cheap, fast transactions — it’s the “digital silver” to Bitcoin’s gold.
🪙 Institutional Interest Sneaking In
More funds and platforms are quietly adding LTC to their offerings — don’t sleep on it.
🔄 High Correlation with Bitcoin
If BTC breaks out, LTC often follows fast — and sometimes harder.
💎 Still Undervalued vs. Major Alts
LTC hasn’t popped yet like ETH or SOL — which makes it a solid catch-up play.
The price has broken the Wedge formation.
We need it to close above the neckline of the W Formation
and for the price to go above 20MA & 200MA.
Once it goes above 949, we can see the next target to 1,114.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Buylitecoin
Litecoin A formation of long trend?We can see a long trend beginning to form with lite coin. Whilst many speculate over potential sell off/market dump soon to happen to the main stream alt coins, we believe the new drawn attention could see some of the major players take on a bull run.
In the event of an extended breakout and the trend continuation, Litecoin could test resistance at $170. The second major resistance level sits at $165.11.
Failure to avoid a fall through the $148.38 pivot level and the 23.6% FIB would bring the first major support level at $141.77 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $131.65.
(Buy) Litecoin Technical Analysis for May 4, 2018Hello Traders,
Litecoin is designed for merchant and those willing to buy sell pseudonymously through blockchain. There is more adoption considering the number of merchants and payment companies/start ups willing to do business with Litecoin Foundation and or Charlie Lee. Besides, of all the coins in the top 10, it lags in performance meaning it is undervalued with better upsides in the long run.
Full TA at NewsBTC by Dalmas Ngetich