LTC/USD Forecast Fundamental Analysis | Litecoin / US Dollar

While Litecoin has minted 950 millionaires, while it dropped out of the Top 10 list of cryptocurrencies by market cap, activity is picking up across the network. It is a massive bullish catalyst as new wallet addresses come online faster than Cardano, Bitcoin Cash, and Dogecoin. The hash rate also surged to a three-month high above 325 TH/s. The most recent surge in activity can fuel another rally towards 230, as underlying fundamentals remain promising. 


The forecast for the LTC/USD turned bullish after correcting from its most recent price spike. With the Tenkan-sen flat and the Kijun-sen ascending, traders should expect a bullish crossover. It is likely to increase buying pressure, with the Ichimoku Kinko Hyo Cloud also ascending. The CCI dipped into extreme oversold territory below -100 but has more room to correct to the downside. Volatility is likely to increase, and traders should remain patient until the CCI moves above -100.


LTC/USD Forecast Fundamental Analysis | Litecoin / US Dollar


Should price action for the LTC/USD remain inside the or breakout above the 154.90 to 177.30 zone, recommend the following trade set-up:

  • Timeframe: D1       
  • Recommendation: Long Position
  • Entry Level: Long Position @ 166.50
  • Take Profit Zone: 223.25 – 235.60
  • Stop Loss Level: 145.60


Should price action for the LTC/USD breakdown below 154.90, recommend the following trade set-up:

  • Timeframe: D1       
  • Recommendation: Short Position
  • Entry Level: Short Position @ 145.60
  • Take Profit Zone: 123.25 – 136.00
  • Stop Loss Level: 154.90
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