Faster Than Lite - A Short-Term LTC Technical Analysis

These are my opinions, not financial advice. Please do your own research before investing in anything.

Litecoin is one of the oldest and most widely used cryptocurrencies on the market today. With a market cap of over $4 billion, it is safe to say that Litecoin has established itself in the crypto world; but if this market is anything, it is unforgiving and unpredictable. We have seen countless promising currencies fall to the status of 'shitcoin', subject to the brutal winds and whims of the crypto world. That being said, where does Litecoin stand-and where is it going? Let's dive in to some data, as i attempt to answer these questions and more!

Cryptocurrencies as a whole have a wide range of appeals. Some advertise private transactions, some provide rewards for simply holding them, and most operate in specialized ways for unique purposes. Litecoin, as its name suggests, is Bitcoins light-weight counterpart; it boasts 2.5 minute block times, transaction fees averaging a few pennies, and 84 million maximum circulating coins, a humble 4 times Bitcoins max. As far as plans for the future, Litecoin has recently performed it's first atomic swap with Bitcoin, opening the path to new heights of potential.

In examining Litecoins price action, we see it has been following a relative trend, in the form of an expanding wedge. This is considered to be a bearish signal, usually followed by a retracement to the baseline price, in this case around the $20 mark. That beaing said, it looks like Litecoin may be gearing up for another breakout. The lows are trending upwards, and the approaching new year will attract newcomers to the cryptosphere. Most new crypto users start at Coinbase, which features Bitcoin, Ether, and Litecoin as its only available currencies for now. This massive user influx (which has already begun) will only serve to expose Litecoin to more people than ever.

So, what does this all mean? I believe it means we are in for a massive breakout for Litecoin, peaking around $100-125, right in line with the new year. No one ever knows what the market will decide, and if I have learned anything in cryptocurrency it's that one can never expect the unexpected. Sounds redundant, but it's wisdom, I swear! Manage your risks, always do your own research, and back what you believe in; that's where I stand.

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BTC: 1EkCaMUNbJfPmq1WTouinqzNFo9UKDKKXv

ETH: 0x7486Daa9C3558D4a710A85c849D8D0b026Ac1792

LTC: LcUYij1xBMupvCXp1Gs5aWWUAGMeDWFQ1R