We hope for a stronger LTC price action
LTC has established itself as one of the most important cryptocurrencies in the world by staying firmly in the top 20. But there are still some who doubt that it cannot increase sustainably. However, investors don’t have to wait long.
There is hope for LTC
As an asset, LTC is currently not at its best. All indicators are moving in the negative direction. At the same time, however, they also show a positive resilience.
Although the SAR is on a downtrend, an active squeeze is the necessary trigger for recovery. The increasingly fading bearish signal is evidence that the persistent appearance of green candles works.
Second, the Average Directional Index (ADX) crossed the 25 mark and supported the uptrend as LTC was last up 52%.
LTC price promotion | Source: TradingView
Plus, LTC is doing a great job in terms of uptake and increasing social presence. The US real estate investment firm Presidio Property Trust has announced that it will accept LTC as a payment method for commercial tenants.
Additionally, Litecoin card payments have reached 50 million merchants worldwide just a month after Verifone-enabled stores began accepting the cryptocurrency as a payment method.
Recently, the cryptocurrency analysis website Investors Observers reviews LTC has low investment risk and is therefore more profitable for new investors.
This does not seem to be correct, however, as it turned out that inflows into LTC were the lowest this week when compared to other large assets at just $ 0.2 million.
Inflow of funds to LTC | The source: CoinShares
This happens just a week after LTC became the second most traded cryptocurrency by BitPay users after Bitcoin.
LTC is the second most widely traded asset | The source: Twitter
Even so, there are more than 2.03 million investors who are losing money. They hope that these circumstances can cause LTC’s pricing actions to get stronger.
LTC investors win (green) and lose (red) | Source: Intotheblock
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According to AMBCrypto