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

5 months ago 84
PR Distribution

Litecoin (LTC) has been rebounding steadily implicit the past fewer days. The altcoin has successful information surged by 4% implicit the past week, paring immoderate of the losses we saw during the market-wide slump. But adjacent with these bullish signs, LTC is inactive firmly successful the carnivore marketplace territory and could stay determination for a while. But should you inactive bargain it? Here are immoderate highlights first:

  • Although LTC has surged supra its 25- and 50-day exponential moving averages, it is inactive good beneath its 200-day EMA.

  • Broader sentiment successful crypto is yet to rebound steadily, thing that poses a immense downside hazard for LTC.

  • Litecoin indispensable surge past important absorption of $150 if immoderate sustained bullish uptrend is seen successful the adjacent term.

Data Source: Tradingview.com 

Litecoin (LTC) – Price prediction and analysis

Litecoin (LTC) has shown immoderate resilience this week. The coin successful information managed to propulsion up from its six-month lows of $120 and adhd immoderate daylight successful between, trading astatine astir $140 astatine the clip of writing. 

The altcoin has besides seen gains of astir 4% implicit the past 7 days. Although this whitethorn look similar a bullish trend, it’s inactive aboriginal to stake connected LTC. 

First, the coin is good beneath its 200-day EMA of astir $150. Analysts enactment that immoderate bullish surge tin lone travel erstwhile LTC surges past that. If so that happens, it is conceivable that the coin could spell to $170.

Why you should bargain Litecoin (LTC)

Even with existent terms pressure, Litecoin (LTC) has ever been a decent buy. The altcoin is inactive 1 of the champion performing coins wrong the apical 10 and could inactive present much worth successful the agelong term. It is 1 of those must-have crypto assets for immoderate superior capitalist looking to unlock agelong word value.

Read Entire Article