• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Litecoin

Litecoin price prediction: LTC is vulnerable as it diverges with Bitcoin – BanklessTimes

Admin by Admin
October 20, 2021
in Litecoin
0
Litecoin price prediction: LTC is vulnerable as it diverges with Bitcoin – BanklessTimes
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The Litecoin price has diverged from Bitcoin. The LTC token is trading at $187, which is a few points below the key resistance of $192. The coin is about 55% below its all-time high of $412 and has a market capitalization of more than $12.8 billion. It is the 15th biggest cryptocurrency in the world.

Bitcoin and LTC correlation

Litecoin is a second-generation blockchain project that was launched in 2014. The goal of the developers was to provide users with an advanced version of a peer-to-peer payment currency. Today, Litecoin is similar to Bitcoin, with the difference being that its network is relatively faster and cheaper. 

Related articles

Litecoin shoots up by 4,620% – Not price, but… – AMBCrypto News

Litecoin shoots up by 4,620% – Not price, but… – AMBCrypto News

July 4, 2022
Litecoin falls beneath a bullish order block, could $40 be next target – AMBCrypto News

Litecoin falls beneath a bullish order block, could $40 be next target – AMBCrypto News

July 3, 2022

As a result, historically, Bitcoin and Litecoin prices have tracked each other. In most cases, Litecoin tends to rise when Bitcoin rises and vice versa. For example, the LTC price soared to an all-time high of $412 when Bitcoin moved to an all-time high of about $65,000. 

[embedded content]

Similarly, Litecoin price crashed hard when the price of Bitcoin declined from $65,000 to below $30,000. According to MacroAxis, the two cryptocurrencies have a correlation co-efficient of about 0.85.

However, recently, this correlation has been challenged. For one, Bitcoin is trading at $64,000, meaning that it has pared most of its previous losses. Its price has more than doubled from its lowest level in July. 

eToro

Minimum Deposit
Exclusive Promotion

User Score

More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

On the other hand, Litecoin is trading at $187, which is substantially below its all-time high. At the same time, its price has risen by just 74% from its lowest level in July. 

This divergence is mostly because more investors have focused on Bitcoin towards the launch of the first Bitcoin futures ETF. Indeed, on-chain data shows that more large investors have been buying Bitcoin. Large holders have maintained their holdings.

Litecoin price prediction

The daily chart shows that the LTC price has been in a tight range in the past few weeks. The price has found a substantial resistance at the $235 level. It has struggled moving above this level several times since September. 

At the same time, the Litecoin price has moved slightly above the 25-day and 50-day moving averages while the MACD has been in a major bullish trend.

However, a closer look shows that the coin is forming what looks like a head and shoulders pattern. In price action analysis, this is usually a bearish signal. Therefore, there is a likelihood that the coin will have a major bearish breakout soon.

Litecoin price
Share76Tweet47

Related Posts

Litecoin shoots up by 4,620% – Not price, but… – AMBCrypto News

Litecoin shoots up by 4,620% – Not price, but… – AMBCrypto News

by Admin
July 4, 2022
0

One of the biggest disadvantages of Litecoin is its lack of demand, when compared to other altcoins in the market....

Litecoin falls beneath a bullish order block, could $40 be next target – AMBCrypto News

Litecoin falls beneath a bullish order block, could $40 be next target – AMBCrypto News

by Admin
July 3, 2022
0

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion...

Litecoin (LTC) Returns to $50 After Rejection From Resistance – BeInCrypto

Litecoin (LTC) Returns to $50 After Rejection From Resistance – BeInCrypto

by Admin
June 30, 2022
0

Litecoin (LTC) is at risk of breaking down from a short-term consolidation pattern, something which could take it towards its...

Litecoin price analysis: LTC/USD exhibits extreme bearish signs at $52.50 – Cryptopolitan

Litecoin price analysis: LTC/USD exhibits extreme bearish signs at $52.50 – Cryptopolitan

by Admin
June 29, 2022
0

John Palmer John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a...

Not Cardano, Ethereum or Litecoin but outflows were solely focused on… – AMBCrypto News

Not Cardano, Ethereum or Litecoin but outflows were solely focused on… – AMBCrypto News

by Admin
June 28, 2022
0

The ongoing cryptocurrency market has continued to witness major liquidations. Following a $24 billion decline on 26 June, the total...

Load More
  • Trending
  • Comments
  • Latest
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

July 6, 2022
Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20000, as Crypto Volatility Continues – Market Updates Bitcoin News – Bitcoin News

Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20000, as Crypto Volatility Continues – Market Updates Bitcoin News – Bitcoin News

July 6, 2022
What if Ripple loses and XRP is deemed a security? – FinanceFeeds

What if Ripple loses and XRP is deemed a security? – FinanceFeeds

July 6, 2022
Bitcoin price approaches potential springboard to $23K as DXY cools surge – Cointelegraph

Bitcoin price approaches potential springboard to $23K as DXY cools surge – Cointelegraph

July 6, 2022
Crypto Hoarding

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack