Litecoin (LTC) remains firmly in the bear market despite recent gains – Should you still buy it?

Litecoin (LTC) has been rebounding steadily over the previous few days. The altcoin has in truth surged by four% during the last week, paring a few of the losses we noticed throughout the market-wide droop. However even with these bullish indicators, LTC remains to be firmly within the bear market territory and will stay there for some time. However must you nonetheless purchase it? Listed below are some highlights first:

  • Though LTC has surged above its 25- and 50-day exponential shifting averages, it’s nonetheless effectively beneath its 200-day EMA.

  • Broader sentiment in crypto is but to rebound steadily, one thing that poses an enormous draw back threat for LTC.

  • Litecoin should surge previous essential resistance of $150 if any sustained bullish uptrend is seen within the close to time period.

Information Supply: Tradingview.com 

Litecoin (LTC) – Worth prediction and evaluation

Litecoin (LTC) has proven some resilience this week. The coin in truth managed to tug up from its six-month lows of $120 and add some daylight in between, buying and selling at round $140 on the time of writing. 

The altcoin has additionally seen beneficial properties of about four% over the previous 7 days. Though this will seem to be a bullish pattern, it’s nonetheless early to guess on LTC. 

First, the coin is effectively beneath its 200-day EMA of round $150. Analysts be aware that any bullish surge can solely come as soon as LTC surges previous that. If certainly that occurs, it’s conceivable that the coin may go to $170.

Why you can purchase Litecoin (LTC)

Even with present value strain, Litecoin (LTC) has at all times been a good purchase. The altcoin remains to be among the best performing cash inside the highest 10 and will nonetheless ship extra worth in the long run. It’s a kind of must-have crypto belongings for any severe investor seeking to unlock long run worth.

The submit Litecoin (LTC) stays firmly within the bear market regardless of latest beneficial properties – Do you have to nonetheless purchase it? appeared first on Coin Journal.

Leave a Reply

Your email address will not be published. Required fields are marked *