Litecoin’s 14-year resilience meets weak demand – Will LTC wake up?

In a bid to search out probably the most undervalued legacy coin, the Silver Standard report made the case for Litecoin. It identified that the Proof of Work Litecoin community has a fourteen-year uptime, a rising hash price, and deep liquidity.

Supply: Silver Standard

Evaluating the Litecoin [LTC] hash price development as a proportion to Bitcoin’s [BTC] hash price development highlighted LTC’s resilience on the technical stage. This meant that the chain has vital adoption potential, and presumably sizeable worth upside.

Supply: LTC/USDT on TradingView

The multi-year compression sample on the month-to-month chart helps this view. These compressions typically resolve with a violent transfer, as worth motion coiled tightly like a spring tends to blow up outward with pressure.

If a rally emerges from this setup, the worth might goal for the all-time excessive at $410.

Litecoin is at key assist, however no response from bulls

Supply: LTC/USDT on TradingView

On the weekly chart, Litecoin was buying and selling at a key assist zone at $82. It was a requirement zone that had initiated the rally in June, which noticed a bullish weekly construction break.

Furthermore, it marked the Worth Space Low for 2025.

This discovering got here from the Mounted Vary Quantity Profile device. The A/D indicator continued to pattern increased, suggesting that it was potential to beat the current promoting stress.

Then again, the MACD signaled robust bearish momentum.

Supply: LTC/USDT on TradingView

The every day chart confirmed a bearish construction.

Swing merchants want the $88 provide zone to flip into assist earlier than contemplating lengthy positions. The $82 space stays a assist, nevertheless it has not attracted sufficient patrons to shift momentum.

The bearish case

As issues stand, the bullish and bearish circumstances appear kind of equally possible. The dearth of bullish response for almost a month on the $80 space was a warning that the worth is accepted at these ranges. Bulls who would possibly see Litecoin as buying and selling at a reduction had been few in quantity. In any other case, we might have seen a rally by now.

Merchants’ name to action- extra ready?

A transfer previous $88 is required to sign a rising uptrend. A breakdown under $75-$80 is required to sign a bearish continuation. Proper now, it is likely to be prudent to attend for the market to indicate its hand.

Last Ideas

• Litecoin is buying and selling at 2025’s Worth Space Low, a key long-term assist.
• The consolidation inside the $80 demand zone indicated a scarcity of power from the patrons over the previous month, and will pave the way in which for extra losses.

Disclaimer: The knowledge offered doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion