LTCUSD (Litecoin) – Week 33 – Going to the resistance area
Because it is now losing market reputation, the entire ecosystem of LTC may be described as one of confusion. It does not represent any fundamental changes, the asset has yet to surpass its 2017 high, and it is ranked 15th! However, according to a report shared with AMBCrypto, data insights from Sentifi indicated that Litecoin claimed the top spot in sentiment score, beating the likes of Ethereum in the process. It is also important to note that, LTC has been in the top 5 sentiment scores before over the past few weeks.
Lastly, another positive development for Litecoin relates to Bitpay. The largest provider of cryptocurrency payment services announced last week that they will be supporting Litecoin in their BitPay wallet. Note that they haven’t added the likes of Cardano, Polkadot, Chainlink, all residing above LTC in terms of market valuation.
Technically, Litecoin behaved as we expected in our last report. The price made a small pullback and broke out to the upside big time towards the resistance area. For now, we see the price continuing its upside trajectory towards the resistance area with or without small consolidations along the way.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Lastly, another positive development for Litecoin relates to Bitpay. The largest provider of cryptocurrency payment services announced last week that they will be supporting Litecoin in their BitPay wallet. Note that they haven’t added the likes of Cardano, Polkadot, Chainlink, all residing above LTC in terms of market valuation.
Technically, Litecoin behaved as we expected in our last report. The price made a small pullback and broke out to the upside big time towards the resistance area. For now, we see the price continuing its upside trajectory towards the resistance area with or without small consolidations along the way.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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