Litecoin in search of higher profits, look where it’s going

by admin .

Although Bitcoin is getting all the attention, already altcoins like Litecoin (LTC) are preparing to look for better returns.

Did you like the content? Share it
Click to share on Twitter (opens in a new window)Click to share on Facebook (opens in a new window)Click to share on LinkedIn (opens in a new window)Click to share on WhatsApp (opens in a new window)Click to share on Telegram (opens in a new window)Click to share on Skype (opens in a new window)
single-image
Litecoin continues to be strong and shows intentions to look for Profit Revolution more gains in this bullish rally of the crypto ecosystem. If you are interested in where LTC’s price is headed, stay tuned for this publication.

The long term uptrend is resuming
At the moment there is no rally that compares with the one that Bitcoin is holding, and although it is generating some positivism in other cryptosystems, most of the attention is being brought to it by BTC.

However we have already been seeing how Ethereum has been waking up strongly, Binance coin marked an ATH yesterday. And so different currencies that with their fundamentals have a very solid position in the ecosystem to take advantage of a general bullfight.

Among those crypt coins we must include Litecoin, which although it doesn’t stand out too much, has always remained there as a cheaper and faster version than Bitcoin.

Today LTC shows a fairly solid performance for the long term. It’s behaving in a way that makes us think that it’s already looking for new historical highs.

After the collapse in March, Litecoin managed to fully recover and is currently challenging the most relevant immediate monthly barrier, one that if crossed will leave the ground clear for the ATH zone.

Litecoin’s monthly price chart Source: TradingView.
Monthly chart of Litecoin’s price. Source: Litecoin: TradingView.
Bitcoin reaches 28k. Here is a forecast for next week
The scenario in the weekly chart indicates that Litecoin is ready for more profits
When we analyse the weekly candlestick chart, we realise that the bulls also have control of the medium term trend, thanks to a continuous succession of rising minima and maxima.

Currently as I mentioned the price of Litecoin is being hampered by resistance near the $136 level, if crossed the space would be clear to manufacture significant gains.

When we detail the price’s behaviour in this time frame, we realise that the present moment could be the end or almost the beginning of a mid term momentum, which should give way to some correction before continuing to rise.

Such a fall at this time would be totally healthy and would pick up demand that is taking advantage of discounted prices to further propel Litecoin into profit.

Litecoin is willing to look for higher profits. Source: TradingView.
Litecoin is willing to look for higher profits. Source: TradingView.
Short-term trend tells us that LTC could be ready to go higher in the next few hours
On the daily candlestick chart we see how Litecoin seems to have gained support at the $122 level, and rested long enough to resume the previous trend.

For this to change, the $122 support must be breached, which would signal a correction in the medium term trend.