Home
News
- LTC price touched price level $80.
- The market for the token is oh high whale alert.
- Litecoin was ranked #1 as the biggest crypto coin on the basis of median hold.
The holders who invested in LTC during the crunch days are harvesting the benefits following its bullish momentum. In the latest upgrade, the first is LTC taking the number 1 spot by median hold, meaning that the Litecoin holders had lower losses than other coins due to its upside. Second, it recently announced that the Litecoin network is scheduled to only produce 84 million tokens in total, meaning it has capped its supply. This means that the token has entered the category of being a deflationary token, which will result in a price surge.
The picturesque
The price surges marking higher highs for the holders to gain many folds. The LTC price also recently formed a golden cross which is a strong signal of the forthcoming bullish swing. The trading volume also rose, along with the prices showing that users are attracted to this token. The price aims to surge and reach the range of $120.
The CMF indicator slopes upwards and reaches the ranges above the baseline. The MACD also diverges in a bullish swing with green buyer bars and functioning above the zero mark. The RSI indicator floats about the border zone indicating higher buyer participation.
The peephole
The closer time frame of recent hours shows that the price takes a step back to gain higher momentum. The CMF indicator halts at the 0 mark to rise further. The MACD snarls and prepares to diverge for the bulls. The RSI indicator moves closer to the neutral zone to escalate from here.
Conclusion
The price charts and the recent event are all in favor of Litecoin, as they kind of pave the path for it to escalate and nerve seeps back. The holders are eager and hold their breaths as this may awestruck any, but benefits many.
Technical levels
Support levels: $41.68 and $29.26
Resistance levels: $101.80 and 114.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
