Polkadot Price Upcoming Move As The Bears Emerge.
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Litecoin Appears To Be Ready To Take The Next Step - Price Over $500 Expected Soon.
2021-11-12 | Eddy Morgan
Source: TradingView
More crucially, the technical expert stated that the $1,000 target for Litecoin is "quite secure." He stated that the LTC is expected to form a cup and handle pattern on the weekly chart, which is a bullish indicator that extends upward. Prices are likely to range from around 1,800% to $8,000 during the $420 inflation break. A bullish target is calculated by calculating the distance between the bottom of the cup and the pattern's flow rate and extending that distance upwards from the explosion. Despite the fact that $8,000 is the highest aim for Litecoin, a 2021 high tech review of $413 may be the next in the near future. According to the IntoTheBlock In/Out of the Money Around Price (IOMAP) model, Litecoin has only one challenge ahead of it. Previously, 42,600 addresses were purchased for over 240,000 LTC between $311 USD and $320 USD. As a result of such a significant supply barrier, traders who were underwater may try to break even on their long holdings, slowing the climb. However, as Brandt points out, a strong closing above this resistance wall might result in a climb to $413. It is worth noting that Litecoin must be valued at more than $240 in order for a bullish forecast to be successful. Any indications of weakness at this price level may prompt investors to sell in order to avoid losses. Based on the transaction's history, an increase in sales pressure that pushes the LTC below $240 may result in a $200 or less correction.
