Expect 2021 To Be The Year Of Litecoin
#Flare Networks have to state that they will be integrating Litecoin ahead of the Flare network launch in Q2. This they say will permit LTC to be used trustlessly on Flare with Ethereum style smart contracts and gives LTC interoperability and composability.
Some of them after learning this feel like LTC at last has a use case. Holders have to state that LTC was a store of value just like BTC and that there will be more reasons to hold it now. And some say this will make LTC more superior than ETH. Also Cardano (ADA) are also likely to bring in smart contract combability with LTC in the forth coming months. 2021 is expected to be the year of LTC.
Litecoin closed down -5.440 at 131.530. Volume was 44% below average (neutral) and Bollinger Bands were 112% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Litecoin is currently 105.1% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of Litecoin at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bullish on Litecoin and have had this outlook for the last 27 periods.
Overall, the bias in prices is: Upwards.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles.
During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
A hammer occurred (a hammer has a long lower shadow and closes near the high). Hammers must appear after a significant decline or when prices are oversold to be valid.
When this occurs, it usually indicates the formation of a support level and is thus considered a bullish pattern.
A hanging man occurred (a hanging man has a very long lower shadow and a small real body).
This pattern can be bullish or bearish, depending on the trend.
If it occurs during an uptrend (which appears to be the case with FOREX Litecoin) it is called a hanging man line and signifies a reversal top.
If it occurs during a downtrend it is called a bullish hammer.
A long lower shadow occurred.
This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
A spinning top occurred (a spinning top is a candle with a small real body).
Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).
During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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