• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Litecoin Price Analysis: Litecoin Will NEVER Test $400 Predicts Sabis Group

Dalmas Ngetich by Dalmas Ngetich
3 years ago
in
Reading Time: 2min read
technical analysis litecoin LTC
Advertisement

The crypto verse is can be dramatic and depending on your preference, Litecoin and Bitcoin enjoy wide media coverage—and sometimes from research groups as Satis. They claim Litecoin gains shall average at $255 in the next decade and despite on-chain developments and adoption levels, LTC will never rise to $400.

From the News

Perhaps a stand out as the week concludes is this ruffling price prediction from Satis Group. While no one can accurately predict the future value of an asset even with the help of the latest valuation software, the research group has churned out some rather bold prediction of Bitcoin and its proxy, Litecoin.

Understandably, the crypto market is still nascent and that’s part of the reason why institutional investors are wary of sinking investors’ money. As a market that’s still trying to find a footing in a fast moving environment underpinned by technology, Litecoin and the rest of the markets are volatile but that didn’t stop Sherwin Dowlat and Michael Hodapp the authors of this controversial report from laying out their expert predictions.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Basing their forecast on peer-peer metrics and various traditional valuation models, they project that prices will never see the light of $400. That’s where Litecoin peaked before sinking to current levels.

What’s odd is that they took the John MacAfee route, placing Bitcoin at $144,000 in 10 years and $60,000 by the end of 2018. While all these are potential prices tags, many remain upbeat of Bitcoin but end up placing Litecoin at the dredges as they completely ignore the positive co-relation between Bitcoin and Litecoin.

Besides the obvious relationship, the network continues to find broad support from businesses, exchanges and investment firms with the foundation further oiling the systems by implementing solutions that deal with scalability, speed and most importantly adoption.

Litecoin Technical Analysis

Weekly Chart

Litecoin (LTC) Technical Analysis
Litecoin Weekly Chart by Trading View

Odds are, Litecoin will end up higher this week. So far, prices are up six percent and while they remain higher than last week, we must acknowledge that LTC prices are still in range mode. Not only are they moving within the last two week’s high lows but week ending Aug 12 bearish engulfing candlestick shadows any attempts of higher highs.

This is why LTC is most likely to dip provided prices are oscillating below $70 and more importantly below week ending Aug 12 highs at $80. In any case, prices might end up moving horizontally for some time as price accumulate/distribute ready to break below $50 or above $70.

Daily Chart

Litecoin (LTC) Technical Analysis
Litecoin Daily Chart by Trading View

In this time frame, the reason for our neutral proposal is technical and clear from the chart. Notice that LTC prices are moving inside Aug 17 high low and are yet to break above $70—the immediate resistance line despite trend continuation following that high volume thrust of Aug 27.

Either way, risk on traders can load up longs with stops at $55 and targets at $70 and later $90. The safest route is the conservative way of trading and that dictates either a break above $70-asuming Aug 17 and 27 bull bears are confirmed or a dip below $50—in case there is trend resumption.

Disclaimer: This is not investment advice and views represent that of the author. Do your own research before making an investment decision.

Tags: litecoin price chartsLitecoin Sabis Grouplitecoin technical analysis
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Ethereum

TA: Ethereum Dives Below $1,500, Why Bulls Are Losing Control

1 hour ago
Bitcoin

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

3 hours ago
bitcoin cheat sheet

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

5 hours ago
bitcoin bloomberg march

Bloomberg Chief Analyst Says Bitcoin Could “March To $100,000” From Here

10 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Affect? Billionaire Fund Manager Sells 1.8M Tesla Shares for Clients

17 hours ago
Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

19 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bittrex Global Exchange to List Ndau for Long-term Holders

March 4, 2021

Polkadex, DEX Built for Web3, Raises $3m From CMS Holdings, Outlier Ventures, OKEx Capital and More

March 4, 2021

Casino Betting Coin launches $FUN Uniswap pool

March 4, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.