{"id":14146,"date":"2022-04-18T06:47:56","date_gmt":"2022-04-18T06:47:56","guid":{"rendered":"http:\/\/egrowonline.com\/?p=14146"},"modified":"2022-04-18T06:47:56","modified_gmt":"2022-04-18T06:47:56","slug":"litecoin-ltc-what-is-a-good-time-to-buy-into-the-altcoin","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=14146","title":{"rendered":"Litecoin [LTC]: What is a ‘good time’ to buy into the altcoin"},"content":{"rendered":"


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One of the first proper alternatives to Bitcoin<\/a>, Litecoin<\/a> has amassed a huge following all across the crypto-community. While never as popular as BTC, LTC has carved a niche for itself, with its price valuation reflecting the same as well.<\/p>\n

Attractive valuations?<\/h4>\n

Like most altcoins<\/a>, Litecoin registered an incredible price rally too. Towards the beginning of 2021, it climbed from $125 to nearly $400, before falling to where it is now \u2013 Trading below even its early-2021 levels of ~$114.<\/p>\n

However, there seems to be light at the end of the tunnel.<\/p>\n

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LTC\/USDT | Source: TradingView<\/p>\n<\/div>\n

On the charts, Litecoin seems to be falling into a descending wedge and a breakout over the upper resistance trendline can potentially bring about a major rally. That is, provided the broader market behaves well. In fact, it is well-positioned with the RSI at 50 and just millimetres away from a close above the 50-day moving average.<\/p>\n

Fundamentally, it looks like a strong recovery candidate too. LTC\u2019s BitMEX basis ratio has remained reasonably in the positive zone. This suggested that Futures have enjoyed a premium over spot prices. It also goes on to suggest that derivatives traders and investors have so far stayed optimistic about the future of this altcoin.<\/p>\n

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Bitmex Basis Ratio | Source: Santiment<\/p>\n<\/div>\n

Litecoin\u2019s perpetual futures funding rates across exchanges like Binance, BitMEX and FTX have stayed positive too, further attesting to the above inference.<\/p>\n

This indicates that derivatives traders with long positions are willing to pay the difference to keep their positions open.<\/p>\n

\"\"<\/a><\/p>\n

Perpetual Futures Funding Rates across Exchanges | Source: Santiment<\/p>\n<\/div>\n

Litecoin\u2019s on-chain Daily Active Addresses have remain fairly steady too, despite the fall in prices since November of last year. This is a sign that users on the network still trust and have faith in it over the long run.<\/p>\n

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Daily Active Addresses | Source: Santiment<\/p>\n<\/div>\n

Concerning signals<\/h4>\n

However, not everything seems rosy for this particular altcoin. Santiment\u2019s Adjusted Price DAA Divergence tool flashed a major sell signal on the chart.<\/p>\n

Looking at the magnitude of the latest red bar on the chart, a correction in the short term may be expected.<\/p>\n

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Adjusted Price DAA Divergence | Source: Santiment<\/p>\n<\/div>\n

Ergo, the overall picture seems quite optimistic for Litecoin going ahead. A gradual accumulation as you go along, with buying the dips, could be the best strategy for this altcoin.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

One of the first proper alternatives to Bitcoin, Litecoin has amassed a huge following all across the crypto-community. While never as popular as BTC, LTC has carved a niche for itself, with its price valuation reflecting the same as well. Attractive valuations? Like most altcoins, Litecoin registered an incredible price rally too. Towards the beginning […]<\/p>\n","protected":false},"author":1,"featured_media":14147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[349,453,203,199,262,232],"class_list":["post-14146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-altcoin","tag-buy","tag-good","tag-litecoin","tag-ltc","tag-time"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/04\/pexels-jievani-8185625-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14146"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14146\/revisions"}],"predecessor-version":[{"id":14148,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14146\/revisions\/14148"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/14147"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14146"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}