Litecoin is a decentralized peer-to-peer cost switch protocol impressed by Bitcoin. It is likely one of the few cryptocurrencies that has regained its earlier assist degree rapidly after the downfall as a result of FTX liquidity disaster.

It suggests a constructive momentum and future development of Litecoin in the long run. Nevertheless, must you put money into LTC in 2022? Learn our Litecoin prediction to know!

On the time of scripting this submit, LTC was buying and selling round $57.70, which creates a constructive sentiment for the brief time period. The candlesticks are forming within the higher Bollinger Bands with constructive RSI that implies it might cross the earlier resistance of $63 inside a number of weeks. Within the final 5 months, it was consolidating between $50 and $63.

Within the first week of November, Litecoin began an uptrend however rapidly modified momentum after the FTX liquidity disaster hit the market. Nevertheless, Litecoin rapidly regained its earlier assist inside one week.

Whereas many cryptocurrencies are forming their yearly lows, the present LTC worth is nicely above the yearly low, which suggests a better low sample for the long run. On the flip facet, MACD continues to be bearish, with purple histograms that counsel consolidation within the subsequent week, however the total short-term sentiment is bullish for LTC.

On the weekly chart, Litecoin candlesticks are forming across the baseline of the Bollinger Bands, and it held long-term assist of $50 in the previous few months. Primarily based on the favored technical indicators, we expect it’s the proper time to take a position for the long run as a result of the LTC worth is across the sturdy assist degree, and if it breaks the resistance, it might not come to this degree once more.

Litecoin is standard for small transactions, not like Bitcoin, which is primarily used for big quantities. LTC has a restricted provide, so traders can count on a worth surge within the subsequent few years. The advertising and marketing staff can be working laborious to increase their use circumstances, however the future will rely upon market adoption.

Litecoin is a basically and technically sturdy altcoin, which ought to be part of your long-term portfolio, so it’s a good time to build up LTC for the long run.