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Litecoin (LTC) Price Might Touch $80 In A Week: Traders Claim The Altseason Is Coming

  • Vera Yurina
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    Litecoin (LTC) price is moving towards $80 mark. Has altcoin season started? Read LTC price predictions from TradingView

Litecoin (LTC) Price Might Touch $80 In A Week: Traders Claim The Altseason Is Coming
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

We’ve been waiting for it since summer, and it finally seems to be nearby – the long-awaited altcoin season. Will Litecoin breakout signify the beginning of the new uptrend? Traders and crypto enthusiasts think it’s possible. Read LTC price predictions from tradingview and Twitter users – they have a few interesting ideas!

Twitter users say ‘Buy’

Now, when the LTC is on the verge of a possible skyrocketing, Twitter users say it’s high time to enter the market before it’s too late. It concerns LTC/BTC pair, too:

Extra-bullish prediction from the same user is $1K in the future:

In summer, Warren Buffet promised the altseaon where Litecoin “will go wild”.

So, has the altcoin season started? Let’s find it out with the help of technical indicators and LTC price charts.

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Bullish breakout is here

LTC breakout has come
Litecoin (LTC) price chart by TradingView

If we analyze both LTC/USD and LTC/BTC pairs, we can see there are strong arguments for a bullish breakout to take place soon.

The LTC/USD technical indicators are as follows:

  • We are currently facing 1.236 Fibonacci resistance at 72.58, after bouncing off of $62.
  • There is a massive hidden bullish divergence on the daily, in which we are seeing lower lows for the price, and higher lows for the indicators, namely RSI and MACD.
  • The 20 Moving Average (MA) acts as a good reference for significant support and resistance and is currently functioning as support for the price.
  • We are seeing a textbook ascending triangle that indicates the potential for a bullish reversal. Bears are merely protecting 1.236 fib level resistance, while bulls are constantly making higher lows.

Judging by all those indicators, LTC might touch $80 mark easily during this week.

When it comes to LTC/BTC, it also looks quite good:

  • We are also seeing a hidden bullish divergence for the pair. The price is making lower lows, while the MACD is making higher lows.
  • The RSI has been inconsistent with the divergence, but two bullish breakouts have taken place already with a divergence reference to the RSI as an indicator. This indicates that a bullish momentum can kick in again for a breakout.
  • We are seeing a potential reverse head and shoulders pattern, in which we are at the process of completing the right shoulder. If this pattern plays out, we could see a potential breakout to 0.008 levels.

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LTC breaks the bearish line

LTC price targets defined
Litecoin (LTC) price chart by TradingView

LTC broke bearish trend line!  Now when we see bearish momentum has been finished, you can enter the LTC/USD market after breaking 71.16 resistance, since R/R is looking very good. So, the short-term analysis includes the following targets:

TP1: 83.13 (might be easily achieved this week)

TP2: 106.77

TP3: 125.07

TP4: 145.90

LTC finds support on 1W MA50

LTC can repeat the previous bull run
Litecoin (LTC) price chart by TradingView

Finally, LTC technical indicators seem to be very positive in the long term. We can see that LTC is trading around the 1W MA50 on a possible midterm support event for the current bullish period, which is repeating the 2015 sequence. This MA period previously held throughout 2015 - early 2017 up until Litecoin initiated its super-strong rise to the mid $300 level.

Pay attention to how the Top-to-bottom and bottom-to-Halving bottom phases between the 2 cycles have been virtually identical. There is no reason to expect something different this time. Unless we see a major divergence below the 1W MA50, we should expect this level to attract buyers and give sporadic spikes on a lengthy consolidation until the next super-strong parabolic rise.

Bottom Line

It seems like the altcoins are on the rise. We have noticed Ethereum and EOS make miraculous moves in the past few days (ETH moved up by 15% within a week, and EOS moved up 14%). Litecoin is certainly one of the more likely candidates that could experience a bullish breakout if it really occurs. However, let’s not make premature conclusions and watch further market movements.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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