Litecoin stable and with positive outlook: price analysis and weekly update

One of the main features of Litecoin is to make stability, or at least try to it, in fact, even during these six months of bearish market for cryptocurrencies, Charlie Lee’s creature seems to have kept expectations; compared to BTC, in fact, our beloved LTC rarely fell below 0.016, after the maximum peak of 11 December, oscillating between a minimum of 0.01455 at the beginning of February (promptly recovered) and a maximum of 0.02369 touched in the same month. As I write, LTC is quoted at 0.01589554 (always paired with BTC) and appears to be in a bullish model; after having touched a double top (just in February) and slipped into a descending triangle (usually a bullish trend reversal signal), LTC broke this configuration during the first week of May and began to construct bullish divergences on both the MACD that on the RSI. In the medium term, therefore, it seems decidedly oriented to return to the highs touched in February and this is good news for those who are currently looking for a fairly stable cryptocurrency that can allow them to make a good profit in the medium term without taking much risk (this always on paper, because in the trading world and especially in the cryptocurrencies trading the unexpected is always around the corner, so never say never). We end by giving a quick look at the quote in pairs with USDT and also in this case LTC seems to represent a good coin on which to invest, while I write share around 120 $ and has just finished building a divergence bullish (both on MACD and on the RSI ); currently seems to be engaged in the construction of a pattern cup with handle for which in the medium term there are good chances to see it go back to price above $ 220

About Andrea Romanazzi 4 Articles
Entrepreneur and independent financial analyst, Andrea is a cryptocurrency trader who over time has developed his own trading strategy. He is the author of the course "criptovalute trading" published in the trading section of this site, follows the markets daily trying to seize the best opportunities that arise to obtain profits. eMail: andrea@altcoinews.it

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