The strength does not need to be overly displayed, the key is to gain more recognition from others. On the investment road, it is more important to do well than to prove one's strength to others. Whether it's a donkey or a horse, you'll know once you take it out for a walk.

I am a scholar in the cryptocurrency circle, always protecting the "leeks" (novice investors). I wish my fans to achieve financial freedom in 2024. Let's work together!

May 3, 2024 Litecoin (LTC) latest market analysis reference

Litecoin has certain advantages in terms of transaction speed, stability, market acceptance, and technological improvements. For long-term holders, Litecoin may be a worthwhile investment choice. However, investment still involves risks. Please evaluate and make decisions based on individual circumstances and risk tolerance. After all, the advice given by the cryptocurrency scholar is only for reference, and risks are self-borne.

First, the cryptocurrency scholar will explain why I recommend everyone to lay out Litecoin (LTC) in the spot market and what are the advantages?

• Fast confirmation time: The transaction confirmation speed is fast, improving efficiency.
• Mature technology: Improved and optimized based on Bitcoin technology, with a certain level of stability.
• Widely recognized: It has high visibility and recognition in the cryptocurrency field. Litecoin has improved and innovated in the cryptocurrency field through technologies such as Segregated Witness and Lightning Network, improving network scalability and security.
• Decentralization: Litecoin adopts a decentralized governance model led by the Litecoin Core team, which is more democratic and transparent compared to centralized management. Coin holders can participate in decision-making, increasing the decentralization of the network.
• Mining algorithm: Uses a different mining algorithm, which is relatively fair.
• Strong adaptability: Can adapt to different application scenarios and needs.

Technical analysis:

Litecoin, as one of the mainstream coins with the fastest recovery after the current round of cryptocurrency market liquidation, rebounded from a low of 70.53 to break through the $88 mark. Although there has been a pullback, the intention of Litecoin in this bull market cycle can be seen. After all, the real momentum has not yet begun, and the main force also wants to make a profit.

Looking at the daily K-line, after breaking the EMA trend indicator, it consolidated for three consecutive days around the EMA180 level, indicating that it started to accumulate around the $80 mark. There is always the possibility of a stretch. After breaking the $75 mark on April 13, I notified some students to lay out Litecoin. On May 1st, when it fell below $75, some people couldn't help but ask the cryptocurrency scholar whether to run. I still say that after breaking $75, it is an opportunity to continue holding for the long term. Although the current profit margin is only $5, the KDJ has started to converge, the MACD volume has decreased, the DIF and DEA have formed a bottom deviation, and the Bollinger Bands have started to converge. The overall trend is biased towards the bottom with limited space, so holding it with peace of mind is fine.

On the weekly chart, resistance appeared above 113, forming a double top at the bottom, which is still valid. The EMA trend indicator is starting to converge, and the KDJ is supported near the 60 trend indicator. The MACD is consolidating above 80 with volume, indicating limited downside space. Friends who have not entered the market can wait for Litecoin to fall below 75 and find an opportunity to enter. The Bollinger Bands are opening upwards, and the K-line is consolidating near the middle rail again. Pay attention to the changes in the trading volume data in the 65 to 75 range.

I laid out the spot near 66 during the National Day last year, and came out half after the market broke 110. After falling below 75 on April 8, I bought back in, with the purpose of coming out again after Litecoin breaks 100, as it is very likely that Litecoin will break 114 and then hit a new high in the range of 150 to 180. Only those who can endure loneliness can hold prosperity. Let's wait and see together.

Specific operations are mainly based on real-time trading data. For more information, please consult the author. The article is published with a delay and is recommended for reference only. Risks are self-borne.

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