Ltcusdanalysis
LTC 3D Pattern “Cup and Handle” finishes its formationFor a long time, 7 months we have not updated the idea for the pair LTCUSDT, because the previous idea was working perfectly and the "Cup with handle" pattern was formed.
Below you can see our thoughts about the prospects of the LTCUSD pair 7 months ago.
In April 2021 we wrote that it would be good to buy Lite in the area of $90-125 for the long term . And already on the May decline, the price low for LTC was $104 . That is, if you have listened to our thoughts and set up a few buy orders in this area, most of the orders would have been executed, and the investments would have shown +100-130% by now.
However, we should not get upset, perhaps the fate will give us one more chance to buy Litecoin long. Maybe, the price of LTCUSDT will go down to $160-170 once again , where the buyers should finally confirm their strength and serious intentions to continue growth.
The global aims for growth of LTCUSD price have not changed for 7 months; we have described them in our previous idea, and we will mention them again — they are $765-785.
There are good growth perspectives in LTCBTC as well, at least +150%, because the price is just trying to push back from the absolute bottom.
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Litecoin can rise 15-20%Litecoin held pretty well during yesterday's selloff and the coin couldn't drop to make a new low, instead confirming that bulls are very strong under 100 figure.
At this point, we can speculate that a double bottom is forming on short time frames, with the neckline at around 110.
In my opinion, dips towards 100 should be bought and, with the pressure lifted from the sell-side in the crypto market, a break above the neckline is very probable.
Short term traders can target 125 resistance for their buy orders and negation comes with a drop under 95
Litecoin- New leg up to 180?After finding a bottom at 120, LtcUsd has reversed and made a local high slightly above 150 figure. A correction followed and the price dropped again to 130 zone. Here Litecoin seems to have found bids and we can expect a new leg up from this crypto.
This leg up can drive the price to 170 resistance with an extension to 180.
I'm bullish as long as Litecoin stays above the recent low.
Litecoin- 20% potential gain if it breaks 140After reaching 120 recent low, Litecoin has started to recover and now is trading exactly under a very important confluence of resistances.
140 is the line in the sand for this crypto and a break above this figure could lead to acceleration and a visit to 165-170 zone resistance
Back under 130 would delay this scenario
Litecoin- Next stop 100?I've said it before, Litecoin is the weakest of all big 4 with the price consolidating in a tight range in December and with clear no buying power.
Finally, we have a break under 140 support and now the price is trading at 129. I expect continuation to the downside and 100 figure can be seller's target.
Sell rallies is a good strategy for Litecoin and only price above 160 would negate this bearish scenario