Litecoin will NEVER test $ 400 Sabian Group

The crypto verse can be dramatic and, depending on your preferences, Litecoin and Bitcoin enjoy broad media coverage and, sometimes, research groups such as Satis. They claim that Litecoin's earnings will reach an average of $ 255 over the next decade and, despite the developments and levels of chain adoption, LTC will never rise to $ 400 .

From the news

Perhaps one stands out as the week ends with this uncertain price forecast by Satis Group. While no one can accurately predict the future value of an asset even with the help of the latest evaluation software, the research team has produced a rather bold prediction of Bitcoin and its proxy, Litecoin.

Understandably, the cryptographic market is still nascent and this is part of why institutional investors are cautious about sinking investor money. As a market that is still trying to find a base in a fast-moving environment advocated by technology, Litecoin and the rest of the markets are volatile but this has not prevented Sherwin Dowlat and Michael Hodapp the authors of this controversial report to expose their expert predictions.

Basing their predictions on peer-peer metrics and on various traditional valuation models, they project that prices will never see the light of $ 400. This is where Litecoin peaked before it dropped to levels current.

What is strange is that they took the John MacAfee course, placing Bitcoin at $ 144,000 in 10 years and $ 60,000 by the end of 2018. While all of these are potential price tags, many remain Bitcoin optimists but end up place Litecoin in dredges because they completely ignore the positive correlation between Bitcoin and Litecoin.

In addition to the obvious relationship, the network continues to find wide support from companies, exchanges and investment firms with the further basis to oil the systems by implementing solutions that deal with scalability, speed and, above all, adoption.

Litecoin Technical Analysis

Weekly Chart

  Litecoin Technical Analysis (LTC)

Litecoin's weekly chart of Trading View

are, Litecoin will end up higher this week. So far, prices have risen 6% and while they remain higher than last week, we must recognize that LTC prices are still in the range mode. Not only are they moving within the lows of the last two weeks but the week ending August 12, the bearish wrapping shadows obscure any attempt at higher peaks.

That's why LTC is more likely to dive as long as prices fluctuate below $ 70 and especially below the week ending August 12th at $ 80. In any case, prices may end up moving horizontally for a while. 39; of time when price accumulates / distributes ready to break below $ 50 or over $ 70.

Daily Chart

  Litecoin (LTC) Technical Analysis

Litecoin Daily Chart by Trading View

In this time frame, the reason for our neutral proposal is technical and clear from the graph. It should be noted that the prices of the LTC are moving upwards on 17 August high and still have to exceed $ 70, the immediate resistance line despite the continuation of the trend after that volume push of 27 August.

In both cases, the risk on traders can load longs with a stop at $ 55 and targets at $ 70 and then $ 90. The safest way is the prudent way of trading and that puts a pause above $ 70-asuming on August 17th and 27th the bears are confirmed or a dip below $ 50, in case there is a resumption of the trend.

Disclaimer : This is not an investment advice and opinions represent that of the author. Do your research before making an investment decision.

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