At the moment, Litecoin is holding around $88 level: the halving seems to have no major impact on its price. Thus, traders continue predicting Litecoin price based on technical indicators and price patterns. What to expect from Bitcoin’s younger brother in the following days? Read short-term Litecoin price predictions from tradingview users.
The coil is tightening
During the previous trading cycle, traders got tired of waiting on a move, sell, move into something else, and miss the move. This time, things are different. Litecoin is showing positive signs but in a longer term.
1) There is a head & shoulders pattern.
2) The downtrend hasn’t broken
3) RSI says the market is fine where it’s at on this timeframe.
4) LTC was weak but fast over a slow cross on the MACD.
There’s no reason to worry about a long term position since we’re post-halving without much problem.
Price is way below the 50 SMA, which happens to be pointing down at the moment, so no rule-based justification to enter a long position. Having just been rejected at the 21 EMA isn’t bullish at all. The best thing we can do is see how it plays out after finishing the descending triangle. Maybe we will see a downward break? Then watch out below and add to the long term. In case of an upward break, look for the pullback retest, enter, and to the moon.
The upward trend is supported by Fib
We can see that the strong support line has stayed intact for 24 days, recent bounce off support signals a strong upward trend. Additionally, during the most recent downtrend, each level of fib retracement has met bears with bullish resistance. Will an upward trend coupled with bullish buy-ins along Fib Levels lead the market to LTC above 100$? It’s more than possible.
A broader picture
To get a clearer understanding of Litecoin market trends, let’s take a look at the monthly, weekly, and daily charts:
On the monthly price chart, we see Litecoin is generally bearish.
On the weekly chart, the last few weeks have been bearish but in the long run, we are bullish in LTC/USD.
When it comes to the daily chart, we see a pullback and look for LTC price predictions the opportunity of entry.
In the H4 chart, we see a draw a trendline and our target is the monthly res.
LTC follows Bitcoin’s path
During the crypto bear market, LTC gets killed and drops 90+%. It’s always a much steeper retracement than BTC.
Yes, after the cycle bottom, LTC recovers better than BTC at first, but it is very short-lived. Once we hit an intermediate cycle top, LTC stalls and goes sideways, while BTC consolidates, but ultimately keeps going up. Last BTC bull market, LTC went sideways for 600 days.
Here are numbers to prove it:
Since the intermediate cycle top, July 2015, BTC grew up 250%, LTC - down 50%
The last cycle, LTC didn’t make a move, until 1 month after BTC broke through previous cycle ATH of 1150.
Since BTC broke 1150 (ATH) in February 2017, BTC grew up to 1600% while LTC made if up 9000%!
LTC is been falling since the intermediate cycle top from 145 to 88 (-40%), meanwhile, BTC is down from 13700 to 11750 (-12%). Thus, we should wait for the next BTC breakout.
So when the trend continues, LTC stalls for the short to intermediate-term, while BTC picks up steam. Once BTC breaks 20k (ATH ), we should have a move away from BTC into LTC, resulting in another "moon" move for LTC, and the start of mass retail investing, altseason, and the final and most potent portion of the current bull market.
Litecoin (LTC) price charts by TradingView