Litecoin Analysis: What’s the Growth Trajectory?

There is always a big buzz around Bitcoin regarding it worth, its long-term prognosis and so on. However, we cannot overlook other altcoins. One of those is Litecoin, a decentralized peer-to-peer cryptocurrency that is one of the earliest altcoins released in 2011.

So, instead of giving you the information you may already know, we figured you might benefit from knowing Litecoin’ forecast in short, medium, and long-term. Let’s check out.

Short-Term – A Notable Shift

Litecoin (LTC) has made an evident shift in its short-term trend by bursting through the lower limit of its rising trend channel. This means that the upward momentum will not go as fast as some would hope, but we are likely to see a more stable horizontal development.

Despite the fact that Litecoin has support at 67.8 points and resistance at 74.5 points, it is still thought to be a positive in the short term.

Medium-Term – A Steady Growth

As for the medium-term future of Litecoin, it trades in the borders of the horizontal trend channel, so we are likely to see it continue in the same direction. At the moment of writing, Litecoin has support at 64.00 points and resistance at 74.00 points.

Low volumes at the bottom and high ones at price tops only increase the likelihood of a breakout and the technical assessment for Litecoin in the medium term is rather positive.

Long Term – A Significant Shift

The fact that Litecoin breaks through the rising trend channel means that a steady horizontal trend development may be underway. Litecoin has broken through the resistance at 63.00 points, so there is space for further rise, so the long-term future of Litecoin is positive!

A Potential For Growth and Stability

Overall, the short, medium and long-term trends show an optimistic picture for Litecoin’s future performance. There is enough room for growth and stability, so we rate Litecoin as an attractive option for investors!