Technicals
Expect the trend to oscillate within triangle sideways until the breakout. Short to medium term neutral, long term bullish
First Sell Target: +-150 USD/LTC
Expected timeframe: 2020 Q4 - 2021 Q1
Fundamentals
-Litecoin halving took place last year Aug 2019 and reduced mining reward from 25 to 12.5 LTC per block (supply shrinkage)
-CIrculating supply of 65,076,429 LTC
-Other than the large number of coins the "benevolent dictator" himself potentially owns, LTC continues to remain decentralized, one of the oldest coins other than BTC
-Able to make cheaper and faster transactions compared especially for smaller amounts compared to BTC (compliments BTC )
-Implements updates faster (e.g. SegWit)
-Mimble wimble block with optional private transactions to be released
-Is not one of these print-my-own-money-out-of-thin air ICO paper projects or deFi hype projects, real implementation of one of the best uses of blockchain "currency"
-FED and other-reserve banks have been devaluating fiat through QE market stimulus measures
-Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly (can now easily begin to pour investor funds in a more mainstream financial instrument)
- Scale - logarithmic
- RSI - oversold on the weekly and monthly
- MACD - monthly shows bullish trend reversal
- Pattern - Symmetrical triangle continuation pattern is being repeated and is dependent on the previous trend, which can be seen in this case to be bullish.
Expect the trend to oscillate within triangle sideways until the breakout. Short to medium term neutral, long term bullish
First Sell Target: +-150 USD/LTC
Expected timeframe: 2020 Q4 - 2021 Q1
Fundamentals
-Litecoin halving took place last year Aug 2019 and reduced mining reward from 25 to 12.5 LTC per block (supply shrinkage)
-CIrculating supply of 65,076,429 LTC
-Other than the large number of coins the "benevolent dictator" himself potentially owns, LTC continues to remain decentralized, one of the oldest coins other than BTC
-Able to make cheaper and faster transactions compared especially for smaller amounts compared to BTC (compliments BTC )
-Implements updates faster (e.g. SegWit)
-Mimble wimble block with optional private transactions to be released
-Is not one of these print-my-own-money-out-of-thin air ICO paper projects or deFi hype projects, real implementation of one of the best uses of blockchain "currency"
-FED and other-reserve banks have been devaluating fiat through QE market stimulus measures
-Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly (can now easily begin to pour investor funds in a more mainstream financial instrument)
Comment:
- Confirmed breakout from the symmetrical triangle to 1LTC/80+ USD.