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Litecoin Price Prediction 2021 – Will LTC Hit $800 Soon?

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Litecoin Price Prediction 2021 - Will LTC Hit $800 Soon?
  • Bullish LTC price prediction ranges from $189 – 400.
  • LTC price might also reach $813 soon.
  • LTC bearish market price prediction for 2021 is $149.

In Litecoin (LTC) price prediction 2021, we use statistics, price patterns, RSI, and much other information about LTC to analyze the future movement of the cryptocurrency. 

Litecoin (LTC) is a digital currency which is developed to offer fast, secure, and low-cost payments by providing the unique properties of blockchain technology. Moreover, the crypto was developed based on the Bitcoin (BTC) protocol. 

However, it varies in terms of the hashing algorithm utilized, hard cap, block transaction times, and some other factors. More so, LTC has a block time of just 2.5 min and highly low transaction fees.

According to CoinGecko, the Litecoin price is trading at $159.89 with a 24-hour trading volume of $2,679,568,217, at the time of writing. However, LTC has decreased by 1.7% in the last 24 hours.

Moreover, LTC has a circulating supply of 66,752,414 LTC. Currently, LTC trades in cryptocurrency exchanges such as Binance, ZG.com, Huobi Global, OKEx, and IDCM. 

Litecoin (LTC) Price Prediction 2021

Litecoin (LTC) holds the 11th position on CoinGecko right now. LTC price prediction 2021 explained below in three time frames. 

Monthly Time Frame

The monthly time frame chart of Litecoin (LTC) is shown below. The chart shows the Double Bottom pattern. A double bottom pattern describes a change in trend and a momentum reversal before leading price action.

LTC/USDT Price Chart Monthly Time Frame (Source: TradingView)
  • Resistance Level 3 – $416.58
  • Resistance Level 2 – $337.16
  • Resistance Level 1 – $199.13
  • Support Level 1- $118.46

In this pattern, it is identified that the LTC price might surge to $416.12. In case the investors turn against the crypto, it has a huge chance of plummeting to $149.94. 

Now let’s identify the support and resistance level using other time frames.

Weekly Time Frame

The weekly time frame chart of the pattern of Litecoin (LTC) is shown below. The chart shows the channel trend pattern of Litecoin.

1637356511 436 Litecoin Price Prediction 2021 Will LTC Hit 800 Soon
LTC/USDT Price Chart Weekly Time Frame (Source: TradingView)
  • Resistance Level 1 – $189.49
  • Resistance Level 2 – $210.11
  • Next Resistance Level 3 – $412.55
  • Support Level 1 – $121.03

In the weekly chart, LTC shows a bullish trend. If the trend continues, it has a huge chance of surging to $412.55. In contrast, if the investors turn against the crypto, there is a huge chance the price could drop to $121.

Daily Time Frame

The daily time frame chart of the pattern of Litecoin (LTC) is shown below. 

1637356512 468 Litecoin Price Prediction 2021 Will LTC Hit 800 Soon
LTC/USDT Price Chart Daily Time Frame (Source: TradingView)
  • Resistance Level 1 – $233
  • Resistance Level 2 – $297
  • Next Resistance Level 3 – $388
  • Support Level 1 – $142
  • Support Level 2 – $115

The chart above shows that LTC has performed a bullish trend over the past month. If this trend continues, LTC might run along with the bulls overtaking its resistance level at $388.

Conversely, if the investors turn against the crypto, the price of LTC might plummet to almost $115, a bearish signal.

From the three patterns it is clear that if the bullish trend continues it is possible to reach over $400. In contrast, if the crypto turns against the bull, it has a huge chance of plummeting to nearly $149.

All-in-all, our long-term LTC price prediction 2021 is bullish. It has a huge possibility of surpassing its current all-time-high (ATH) this year; it might reach $813. However, this will only happen if it breaks many past psychological resistances.

Litecoin (LTC) Relative Strength Index (RSI)

Now let’s look at the relative strength index (RSI) of LTC. As shown in the chart above, the RSI remains at level 46.24. This shows that LTC’s price is in a neither overbought nor oversold state. However, investors can trade safely without any fear.

From the starting of 2021, it is very obvious that the LTC price has seen many bullish trends. Furthermore, considering all these into account, LTC could have a competitive market in 2021.

Conclusion

The LTC is one of the cryptos that keeps its ground against the bearish market. It may reach $400 soon and it might even reach high heights, however reaching $813, if investors have planned that LTC is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Following Crash, Bitcoin Open Interest Declines To Sept 2021 Levels

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Following the crash to $35k, the Bitcoin open interest has declined to September 2021 levels. This may suggest that the market volatility will be lesser in the near future.

Bitcoin Open Interest Drops To Similar Levels As In September 2021

As pointed out by an analyst in a CryptoQuant post, the BTC open interest has decreased to similar levels as last September following the crash.

The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts currently open in the derivatives market. The metric accounts for both long and short positions.

When the value of the indicator increases, it means more money is entering into the derivatives market as investors open more positions.

The volatility in the price of Bitcoin usually rises in such scenarios as it implies leverage in the market is going up, and so a liquidation squeeze may be coming.

On the other hand, when the open interest declines in value, it means holders are closing up their futures positions. The resulting lower leverage environment usually leads to lower price volatility.

Related Reading | Bitcoin Diamond Hands: Despite Recent Fear, Coins Aged 12-18 Months Rise To 2-Year High

Now, here is chart that shows the trend in the Bitcoin open interest since the May of last year:

The value of the indicator seems to have gone down recently | Source: CryptoQuant

As you can see in the above graph, the Bitcoin open interest has declined after the crash in the price of the crypto to $35k.

Similar behavior was also seen during two other instances in the last six months, where a crash in the BTC price wiped out some open interest.

Related Reading | Market May Be Suffering But Bitcoin And Ethereum Will Pull Back Stronger, Bloomberg Analyst

During all these instances, it seems long liquidations were at play to amplify the slide in the crypto’s price. Now, the Bitcoin open interest is at the same level as September 2021.

Ethereum’s open interest has also dropped significantly since its ATH, and is now the lowest since last Sept. The below chart highlights this trend.

Ethereum Open Interest

Looks like the ETH open interest has also observed a reset | Source: CryptoQuant

As the open interest values are now relatively lower, the quant believes volatility should also be lesser in the near term.

BTC Price

At the time of writing, Bitcoin’s price floats around $33.3k, down 21% in the last seven days. Over the past month, the crypto has lost 34% in value.

Here is a chart that shows the trend in the price of BTC over the last five days:

Bitcoin Price Chart

Looks like BTC's price has shown sharp downtrend in the last few days | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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Ethereum Whale Bought 500 Billion Shiba Inu (SHIB) Amid Market Dip

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Ethereum Whale Bought 500 Billion Shiba Inu (SHIB) Amid Market Dip
  • Shiba Inu has been down 10.26% in the last 24 hours.
  • SHIB was amid a comeback rise over the weekend.

The worldwide cryptocurrency market capitalization is $1.55 trillion, representing a 5.26 percent fall from the previous day. Bears are in control of the market, with major currencies trading in the red. At this time, whales have opted to boost their holdings and significantly bought Shiba Inu tokens as a wallet acquired half a trillion of these digital assets. Shiba Inu was amid a comeback rise over the weekend, which came to an abrupt halt as soon as financial markets opened on Monday.

The whale’s purchase might have been aimed to revive the market slump and promote the market’s rebound. SHIB could not be saved from following the overall market trend, despite a substantial buy.

FTT Token Seized the Top Spot

Shiba Inu’s price fell to a level not seen since the beginning of October 2021 after rising by over 16 percent over the weekend. While the meme token was “trying” to reclaim its first position as the largest holding on whale-tier Ethereum wallets, the FTT token seized the top spot with $1.3 billion worth of tokens owned by whales. 

Read More: Shiba Inu Price Prediction

The value of Shiba Inu holdings had plummeted dramatically in the wake of the most recent market decline and is currently estimated at $1.1 billion, the lowest value since the 1000 percent run in October when whales had tokens worth about $1.2 billion. According to CoinMarketCap, the Shiba Inu price today is $0.000020 USD with a 24-hour trading volume of $1,680,422,020 USD. Shiba Inu has been down 10.26% in the last 24 hours.

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ICICB Group to Launch its Metaverse, Entering the Revolutionary Path of Digital Transformation

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ICICB

ICICB Group, a renowned technological investment management company, has announced its plan to launch its Metaverse at the Blockchain Innovation Summit in Dubai. The development team is getting ready to launch into the world of virtual reality.

Metaverse initiatives will be a game-changer in the crypto industry, and the Group envisions its future implementation of the digital world through the Metaverse. The Group and its wealthy partners are working to create these metaverse projects, with cryptocurrency tokens becoming the native money in that universe. The current projects are focused on developing the virtual universe, but their scope, size, and imagination will grow over time. The Group’s is focused on enhancing the luxury business through intelligent metaverse solutions, evaluating, comprehending, and investing in the digital world’s immense potential.

The Group promotes innovation by investing in valuable businesses based on blockchain technology and the novel metaverse. The Group is reimagining the tech sector as a decentralized, virtual-reality platform, to revolutionize the entire user experience using augmented reality (AR) and blockchain technology.

The metaverse projects use crypto to create a digital economy. The Group adopts blockchain technology, which has proven to be a beneficial technology in the metaverse. Blockchain technology is a transparent and cost-effective solution, ideal for the metaverse. It may enable users to create their own avatars and digital identities, a key concept in the metaverse. An avatar can be associated with the crypto wallet to manage the blockchain assets in the virtual universe.

“We’ve gained tremendous proprietary information and insight into present progress and future evolution,” stated ICICB Group Chairman Airton Arruda. The Group is counting on its growing project as a paradigm for a new path forward for the innovative industry. The metaverse will pave the way for a new virtual world that benefits businesses and customers by combining modern technology and traditional components.

ICICB took a novel approach to the metaverse and is now launching a one-of-a-kind initiative, the details of which are yet to be publicly revealed. The Group’s new investment phase may also involve crypto exchange, an NFT marketplace, and a virtual real estate environment in which customers may buy, trade, and manage using blockchain and cryptocurrency. It also features a decentralized crypto wallet. This project may be more than just a metaverse – it could be a place where companies develop great virtual experiences that rival those of their physical locations, all while avoiding the mobility limits imposed by coronavirus.

ICICB Group is a UAE-based financial services firm with over 114 branches and offices across 26 countries. It was created in 2019 to help customers worldwide analyze and adapt to the gradual changes that have occurred as a result of the ongoing digital transformation.

The Group is focused on integrating new processes and deploying innovative technologies to provide long-term sustainable solutions for the tech industry. Furthermore, the organization is always analyzing the market to find projects that require investment to attain their full potential for a decentralized and sustainable future. Please visit the site for more updates.

 

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