Litecoin [LTC]: What is a good time to buy into the altcoin - BitcoinEthereumNews.com
LTC/USDT | Source: TradingView On the charts, Litecoin seems to be falling into a descending wedge and a breakout over the upper resistance trendline can potentially bring about a major rally. That is, provided the broader market behaves well. In fact, it is well-positioned with the RSI at 50 and just millimetres away from a close above the 50-day moving average. Fundamentally, it looks like a strong recovery candidate too. LTCs BitMEX basis ratio has remained reasonably in the positive zone. This suggested that Futures have enjoyed a premium over spot prices. It also goes on to suggest that derivatives traders and investors have so far stayed optimistic about the future of this altcoin. Perpetual Futures Funding Rates across Exchanges | Source: Santiment Litecoins on-chain Daily Active Addresses have remain fairly steady too, despite the fall in prices since November of last year. This is a sign that users on the network still trust and have faith in it over the long run. Pang-araw-araw na Aktibong Address | Pinagmulan: Santiment Concerning signals However, not everything seems rosy for this particular altcoin. Santiments Adjusted Price DAA Divergence tool flashed a major sell signal on the chart. Looking at the magnitude of the latest red bar on the chart, a