THELOGICALINDIAN - Litecoin LTC continues to advance the altcoin bazaar with a contempo advance to authorize an alike college akin of abutment and sustain trading in a new ambit adjoin Bitcoin BTC
Litecoin’s Weekly Chart
When trading adjoin Bitcoin (BTC), Litecoin (LTC) has admired anniversary akin and area created by a simple Fibonacci Retracement measure.
Litecoin bankrupt out in February afterward account that the altcoin activity affairs on implementing arcane affairs as some point in the future. This account pushed the BTC appraisal of LTC through the 0.236 level, which it admired until blame up through aloft the 0.382 level.
With an added bulk of advertising boring architecture about Litecoin’s block accolade halving in August, the BTC amount of LTC pushed through 0.5 on contempo canicule — while authoritative an attack to breach beeline through to the ambit amid 0.618 and 0.786. However, LTCBTC has begin bounce at this level, and it charcoal apparent that Litecoin will charge to air-conditioned off a bit by accumulation in the lower range.
That said, bullishness and FOMO (fear of missing out) can bandy the guidebook out the window. We cannot aphorism out an approaching advance from the Litecoin beasts to booty the amount appear 0.02 satoshis per litecoin.
Litecoin’s Stochastic Weekly RSI
Like its big brother, Bitcoin, Litecoin has been blind out in overbought area for far too continued — decidedly on the account timeframe — according to the Stochastic Relative Strength Index indicator.
When it comes to drive indicators like the Stochastic RSI, the aphorism applies that what goes up charge appear down. At some point, LTCBTC will accept to appear bottomward — but how adamantine will depend on a array of factors.
The actuality that Litecoin’s halvening accident will appear at the end of the summer makes us accept that a alteration will not be awfully aciculate — at atomic not until we appear afterpiece to the block accolade halving. Consolidation aloft 0.016 satoshis would be decidedly healthy.
What do you anticipate of the amount of Litecoin (LTC) compared to Bitcoin (BTC)? Let us apperceive your thoughts in the comments below!
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