Litecoin (LTC) Long-term Price Analysis

  • Litecoin’s price was forced southward towards the accumulation territory of $60 by the bears’ forces.
  • The market may only start a bullish trend by pushing LTC’s price past the two SMAs.

LTCUSD Long-term Trend - Bearish

Distribution territories: $100, $120, $140.

Accumulation territories: $45, $30, $15.

Litecoin has been under steady selling pressure since around May 21, while the 14-day SMA intersected the 50-day SMA from the top. Sales against the US dollar saw LTC get past its recent lowest price value at around the accumulation territory of $75 on August 4. Two days after, the crypto strived to push its price up.

Litecoin, LTCUSD, Cryptocompare chartLitecoin Chart by TradingView

On August 7, Litecoin’s price was forced southward towards the accumulation territory of $60 by the bears’ forces. Its price has now been hovering above said accumulation territory.  The 50-day SMA is still above the 14-day SMA and both point south.

 Stochastic Oscillators have dipped into the overbought zone and are currently consolidating within it.  All these put together show the bears’ intense efforts aren’t stopping yet, meaning more downward movements are to be expected.

The market may only start a bullish trend by pushing LTC’s price past the two SMAs. It’s assumed investors may stay off the market for a while, but traders can continue to look out for a strong move in any direction, while properly managing their funds.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Data Shows Hodlers Outperform Traders, Binance CEO Says

  • Binance CEO Changpeng "CZ" Zhao claims long-term cryptocurrency holders outperform traders.
  • Zhao said the crypto markets are still in their "early game" and that traders in 2025 will wish they had invested earlier. 

Binance chief executive officer Changpeng “CZ” Zhao has said that data shows long-term crypto holders outperform short-term traders.

In a series of tweets published May 24, CZ pointed out the irony of investors believing they got into cryptocurrency “too late” relative to the market, including himself. According to the exchange CEO, traders five years from now will likely be expressing a similar sentiment. 

CZ continued, explaining that he was initially envious of crypto investors who had been in the market since 2010 or 2011, despite being an early adopter himself. 

In response to a tweet asking whether “holding” is good financial advice, Binance’s chief executive revealed that data shows long-term crypto investors outperform traders. CZ commented on the difficulty of holding assets for a long period of time, which he called “passive” relative to the more active position of trading. 

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