{"id":499812,"date":"2022-08-24T09:17:57","date_gmt":"2022-08-24T09:17:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=499812"},"modified":"2022-08-24T09:17:57","modified_gmt":"2022-08-24T09:17:57","slug":"litecoin-near-term-route-determined-by-this-factor","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin-near-term-route-determined-by-this-factor\/","title":{"rendered":"Litecoin (LTC) Near-Term Route Could Be Determined By This Factor"},"content":{"rendered":"<p><em><span style=\"font-weight: 400\">Litecoin (LTC) could be heading the bearish route. According to<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/litecoin\/\" rel=\"nofollow\"> <span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, LTC has nosedived by 0.52% or trading at $56.50 as of press time.<\/span><\/em><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Litecoin going the bearish track<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">LTC down by 0.52%, trading at $56.50<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">LTC engulfing candlestick shows increased selling pressure<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">In the past few days, LTC is seen to be hovering close to its midpoint. Notably, Litecoin is down by 12.75 from its five-day high yet spiked by 7.26% compared to its five-day low that registered at $52.56.<\/span><\/p>\n<p><span style=\"font-weight: 400\">LTC price is gliding above the key resistance level. The support is now spotted at $54.17 and resistance is present at $56.13. In essence, LTC could experience extreme volatility once the price rally loses steam.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/elrond-network-watch\/\">Elrond Network Watch: Consider This Before Filling Up Your Wallet With EGLD<\/a><\/div>\n<h2><b>Litecoin Trading at Low Volumes<\/b><\/h2>\n<p><span style=\"font-weight: 400\">It can be observed that Litecoin has been trading at ridiculously low volumes lately which means that today\u2019s trading volume is comparably low to the coin\u2019s average trading volume in the past week.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Now, the improvement in market performance has restored the faith of many LTC buyers. It seems there could be hope for a bullish momentum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the 62-$64 range could be getting in the way of a bullish movement. In turn, LTC is seen to have plunged below the EMA ribbons to convey a strong selling or bullish streak.<\/span><\/p>\n<p><span style=\"font-weight: 400\">More so, the recent formation of an engulfing candlestick pattern showed a strong uptick in terms of selling activity. <\/span><\/p>\n<p><span style=\"font-weight: 400\">There is a strong knock-back of higher prices seen close to the 20 EMA that could initiate a near-term disengagement before any opportunities for revival come to light.<\/span><\/p>\n<h2><b>LTC RSI Shows Intense Selling Pressure<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The buying upturn of Litecoin has propelled the altcoin to test higher levels in the past month. So, while the bears corroborate the $64-ceiling, Litecoin still sees an ascending channel pattern in this specified timeframe.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following a short-term compression phase spotted close to the EMA ribbons, LTC finally witnessed a bearish breach splicing under the EMA ribbons. As of press time, LTC has found key support at the $53.7-zone.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/polkadot-dot-hits-the-brakes-at-7-34-after-brief-recovery\/\"> Polkadot (DOT) Hits The Brakes At $7.34 After Brief Recovery<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-499813 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/ll.png?resize=529%2C231\" alt=\"\" width=\"529\" height=\"231\"><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">So, even though the EMA ribbons aren\u2019t looking so positive, the bears aim to shift the near-term trend. Striking a bearish punch on the ribbons would most likely strengthen the selling pressure.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A rebound is spotted at the $53 level that can aid the buyers in triggering a sluggish movement drawing close to the EMAs. Now, any close under this support line could open up the altcoin to a prolonged setback.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When this happens, LTC may dart closer towards the $50-zone with the bulls going in to trigger intense buying pressure.<\/span><\/p>\n<p><span style=\"font-weight: 400\">RSI for Litecoin shows a strong selling trump card. Now, a prolonged pullback will only work in the favor of the sellers. But, OBV presenting higher troughs showed a minimal bullish divergence.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">An uptick in the key support zone can potentially help the buyers to put an end to near-term bleeding. Nevertheless, LTC\u2019s ADX is still having a hard time improving its delicate position.<\/span><\/p>\n<p><span style=\"font-weight: 400\"> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/Kpk37M3l\/\" width=\"1834\" height=\"875\"><\/span><\/p>\n<pre style=\"text-align: center\">LTC total market cap at $3.9 billion on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a>\r\n\r\nFeatured image from Analytics Insight, chart from <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin (LTC) could be heading the bearish route. According to CoinMarketCap, LTC has nosedived by 0.52% or trading at $56.50 as of press time. Litecoin going the bearish track LTC down by 0.52%, trading at $56.50 LTC engulfing candlestick shows increased selling pressure In the past few days, LTC is seen to be hovering close to its midpoint. Notably, Litecoin is down by 12.75 from its five-day high yet spiked by 7.26% compared to its five-day low that registered at $52.56. LTC price is gliding above the key resistance level. The support is now spotted at $54.17 and resistance is present at $56.13. In essence, LTC could experience extreme volatility once the price rally loses steam. Related Reading: Elrond Network Watch: Consider This Before Filling Up Your Wallet With EGLD Litecoin Trading at Low Volumes It can be observed that Litecoin has been trading at ridiculously low volumes lately which means that today\u2019s trading volume is comparably low to the coin\u2019s average trading volume in the past week. Now, the improvement in market performance has restored the faith of many LTC buyers. It seems there could be hope for a bullish momentum.\u00a0 However, the 62-$64 range could be getting in the way of a bullish movement. In turn, LTC is seen to have plunged below the EMA ribbons to convey a strong selling or bullish streak. More so, the recent formation of an engulfing candlestick pattern showed a strong uptick in terms of selling activity. There is a strong knock-back of higher prices seen close to the 20 EMA that could initiate a near-term disengagement before any opportunities for revival come to light. LTC RSI Shows Intense Selling Pressure The buying upturn of Litecoin has propelled the altcoin to test higher levels in the past month. So, while the bears corroborate the $64-ceiling, Litecoin still sees an ascending channel pattern in this specified timeframe. Following a short-term compression phase spotted close to the EMA ribbons, LTC finally witnessed a bearish breach splicing under the EMA ribbons. As of press time, LTC has found key support at the $53.7-zone. Related Reading: Polkadot (DOT) Hits The Brakes At $7.34 After Brief Recovery Source: TradingView.com So, even though the EMA ribbons aren\u2019t looking so positive, the bears aim to shift the near-term trend. Striking a bearish punch on the ribbons would most likely strengthen the selling pressure. A rebound is spotted at the $53 level that can aid the buyers in triggering a sluggish movement drawing close to the EMAs. Now, any close under this support line could open up the altcoin to a prolonged setback. When this happens, LTC may dart closer towards the $50-zone with the bulls going in to trigger intense buying pressure. RSI for Litecoin shows a strong selling trump card. Now, a prolonged pullback will only work in the favor of the sellers. But, OBV presenting higher troughs showed a minimal bullish divergence.\u00a0 An uptick in the key support zone can potentially help the buyers to put an end to near-term bleeding. Nevertheless, LTC\u2019s ADX is still having a hard time improving its delicate position. LTC total market cap at $3.9 billion on the daily chart | Source: TradingView.com Featured image from Analytics Insight, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":499814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,65296,8686,10,2828,2829,2831,67259],"class_list":["post-499812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethbtc","tag-ethusd","tag-litecoin","tag-ltc","tag-ltc-price","tag-ltcusd","tag-ltcbtc"],"acf":[],"yoast_head":"\n<title>Litecoin (LTC) Near-Term Route Could Be Determined By This Factor<\/title>\n<meta name=\"description\" content=\"Litecoin (LTC) could be heading the bearish route. 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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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According to CoinMarketCap, LTC has nosedived by 0.52% or trading at $56.50 as of press time. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin (LTC) Near-Term Route Could Be Determined By This Factor","url":"http:\/\/uniquehot.com\/news\/litecoin-near-term-route-determined-by-this-factor\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/litecoin-near-term-route-determined-by-this-factor\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/Litecoin-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/Litecoin-1.png?fit=831%2C462"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","ethbtc","ethusd","litecoin","ltc","ltc price","ltc\/usd","ltcbtc"],"dateCreated":"2022-08-24T09:17:57Z","datePublished":"2022-08-24T09:17:57Z","dateModified":"2022-08-24T09:17:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Litecoin (LTC) Near-Term Route Could Be Determined By This Factor\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/litecoin-near-term-route-determined-by-this-factor\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/litecoin-near-term-route-determined-by-this-factor\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Litecoin-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Litecoin-1.png?fit=831%2C462\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"ethbtc\",\"ethusd\",\"litecoin\",\"ltc\",\"ltc price\",\"ltc\\\/usd\",\"ltcbtc\"],\"dateCreated\":\"2022-08-24T09:17:57Z\",\"datePublished\":\"2022-08-24T09:17:57Z\",\"dateModified\":\"2022-08-24T09:17:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/Litecoin-1.png?fit=831%2C462","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/499812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=499812"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/499812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/499814"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=499812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=499812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=499812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}