Sunday, February 5, 2023
BitWolf
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices
No Result
View All Result
No Result
View All Result
BitWolf

Litecoin Price Prediction as an Ascending Triangle Forms

bitwolf by bitwolf
September 13, 2022
in Litecoin
0 0
0
Home Litecoin


Litecoin worth has staged a powerful restoration prior to now few days as cryptocurrencies and shares bounced again. LTC rose to a excessive of $70, which was the very best stage since June 6, which was about 65% above the bottom stage this yr.

Cryptocurrencies rebound

Litecoin is a number one proof-of-work (PoW) that’s typically seen as a very good viable various to Bitcoin. It has higher options than BTC akin to quicker speeds and decrease transaction prices.

There are a number of explanation why Litecoin worth has staged a powerful restoration currently. First, Litecoin is a proof-of-work (PoW), that means that it’s attracting extra demand from miners who’re making ready for Ethereum merge.

Like Ravencoin, Litecoin’s hash rate has been in a gradual upward development prior to now few days. Based on Coinwarz, Litecoin’s hash fee has jumped to 469.73 TH/s, which is increased than this yr’s low of 353 TH/s. The next hash fee is an indication that the variety of miners within the ecosystem is rising.

Second, Litecoin worth has risen due to the general motion within the cryptocurrency business. Bitcoin has rallied above $22,000 whereas the full market cap of all cash has jumped to over $1.1 trillion. Traditionally, cryptocurrencies have a detailed correlation with one another.

Learn our newbie’s information on how to buy Litecoin.

Third, LTC worth has rebounded due to the hovering American shares. The Dow Jones, Nasdaq 100, and S&P 500 indices have rallied prior to now 4 straight days. This development is probably going due to expectations that the Federal Reserve will gradual its tightening coverage as inflation slips.

Knowledge printed by the Bureau of Labor Statistics (BLS) confirmed that American inflation dropped for the second straight month in August. It dropped from 8.5% in July to eight.3% in August whereas core inflation rose to six.3% The Fed has already hiked rates of interest by 225 foundation factors and hinted that it’ll proceed mountaineering within the coming weeks.

Litecoin worth forecast

The day by day chart exhibits that the LTC worth has made a spectacular comeback prior to now few days. Throughout this era, the pair has fashioned an ascending triangle sample that’s proven in blue. This sample is often a bullish signal.

It has moved above the 25-day and 50-day shifting averages whereas the MACD has moved above the impartial stage. Due to this fact, the coin will doubtless hold rising as bulls goal the following key resistance stage at $80. A drop beneath the help at $60 will invalidate the bullish view.



Source link

Related

Tags: AscendingformsLitecoinpredictionpriceTriangle
ShareTweetShare
bitwolf

bitwolf

Next Post
Solana Santa Fe School ‘looking better than ever’

Solana Santa Fe School 'looking better than ever'

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

January 10, 2023
Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

January 10, 2023
MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

January 22, 2023
Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

January 10, 2023
Trezor and Wasabi Join Forces To Make Bitcoin More Private

Trezor and Wasabi Join Forces To Make Bitcoin More Private

5
Bitcoin could become the foundation of DeFi with more single-sided liquidity pools

Bitcoin could become the foundation of DeFi with more single-sided liquidity pools

1
DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

0
Petrousus Token Set to Top the Cryptocurrency Market Like Uniswap and Solana

Petrousus Token Set to Top the Cryptocurrency Market Like Uniswap and Solana

0
Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch

Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch

February 5, 2023
Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio

Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio

February 5, 2023
How AI can make the metaverse a more interactive space

How AI can make the metaverse a more interactive space

February 5, 2023
Tax strategies allow crypto investors to offset losses

Tax strategies allow crypto investors to offset losses

February 5, 2023

Recent News

Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch

Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch

February 5, 2023
Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio

Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio

February 5, 2023
How AI can make the metaverse a more interactive space

How AI can make the metaverse a more interactive space

February 5, 2023

Categories

  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market & Analysis
  • Nft & Metaverse
  • Solana
  • Uncategorized

Tags

Big Binance Bitcoin Blockchain BNB BTC Cardano Coin Cointelegraph crypto Cryptocurrency Data DOGE Dogecoin ETH Ethereum Exchange eyes FTX Heres Inu Investors Latest Litecoin LTC Magazine market merge News NFT NFTs Polygon price rally Shiba SOL Solana Today token Top Trading Tweet Web3 Week XRP

© 2022 BitWolf All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices

© 2022 BitWolf All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In