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Technicals
Expect the trend to oscillate within triangle sideways until the breakout. Short to medium term neutral, long term bullish
First Sell Target: +-150 USD/LTC
Expected timeframe: 2020 Q4 - 2021 Q1
Fundamentals
-Litecoin halving took place last year Aug 2019 and reduced mining reward from 25 to 12.5 LTC per block (supply shrinkage)
-CIrculating supply of 65,076,429 LTC
-Other than the large number of coins the "benevolent dictator" himself potentially owns, LTC continues to remain decentralized, one of the oldest coins other than BTC
-Able to make cheaper and faster transactions compared especially for smaller amounts compared to BTC (compliments BTC )
-Implements updates faster (e.g. SegWit)
-Mimble wimble block with optional private transactions to be released
-Is not one of these print-my-own-money-out-of-thin air ICO paper projects or deFi hype projects, real implementation of one of the best uses of blockchain "currency"
-FED and other-reserve banks have been devaluating fiat through QE market stimulus measures
-Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly (can now easily begin to pour investor funds in a more mainstream financial instrument)
- Scale - logarithmic
- RSI - oversold on the weekly and monthly
- MACD - monthly shows bullish trend reversal
- Pattern - Symmetrical triangle continuation pattern is being repeated and is dependent on the previous trend, which can be seen in this case to be bullish .
Expect the trend to oscillate within triangle sideways until the breakout. Short to medium term neutral, long term bullish
First Sell Target: +-150 USD/LTC
Expected timeframe: 2020 Q4 - 2021 Q1
Fundamentals
-Litecoin halving took place last year Aug 2019 and reduced mining reward from 25 to 12.5 LTC per block (supply shrinkage)
-CIrculating supply of 65,076,429 LTC
-Other than the large number of coins the "benevolent dictator" himself potentially owns, LTC continues to remain decentralized, one of the oldest coins other than BTC
-Able to make cheaper and faster transactions compared especially for smaller amounts compared to BTC (compliments BTC )
-Implements updates faster (e.g. SegWit)
-Mimble wimble block with optional private transactions to be released
-Is not one of these print-my-own-money-out-of-thin air ICO paper projects or deFi hype projects, real implementation of one of the best uses of blockchain "currency"
-FED and other-reserve banks have been devaluating fiat through QE market stimulus measures
-Grayscale Receives FINRA Approval for BCH and LTC to Trade Publicly (can now easily begin to pour investor funds in a more mainstream financial instrument)
Comment:
- Confirmed breakout from the symmetrical triangle to 1LTC/80+ USD.