Litecoin ($LTC ), often referred to as "digital silver" in relation to "digital gold" Bitcoin, shows interesting dynamics.
Technical Analysis:
* Current Price: ~$70-$75.
* Support: Strong support in the range of $65-$68, where significant trading volume occurred.
* Resistance: The nearest resistance is at $80, followed by $90. A breakout above $90 will open the way to $100+.
* Indicators: RSI is in a neutral zone, indicating the absence of overbought or oversold conditions. MACD shows sideways movement, indicating current uncertainty.
* Volumes: Trading volumes have decreased, which may indicate consolidation before the next move.
Opinion on buying:
$LTC is in a consolidation phase. For short-term traders, a flat market may be possible. For long-term investors, the current levels may be interesting, considering the upcoming halving and historical correlation with Bitcoin. However, there is always a risk of volatility. It is recommended to wait for confirmation of a breakout above resistance at $80 or a clear bounce from support at $65 for more confident actions. Don't forget about portfolio diversification.
Disclaimer: This is not financial advice. All investments carry risk. Do your own research.
