Analysis of the advantages of Litecoin:
Fast transaction confirmation:
Litecoin’s block confirmation time is only 2.5 minutes, which is much faster than Bitcoin, which means transactions can be confirmed faster, improving transaction efficiency.
Highly secure:
Litecoin uses blockchain technology similar to Bitcoin, which is decentralized and cannot be tampered with, ensuring the security and credibility of transactions.
Powerful mining network:
Litecoin uses the Scrypt hashing algorithm, which is easier to mine than Bitcoin, which ensures the stability and security of the Litecoin network.
High degree of divisibility:
Unlike Bitcoin, Litecoin has a larger total supply of 84 million coins, making it easier to divide and use.
Technical analysis:
Handicap resistance:
Litecoin is currently trading near $98 but is facing significant intraday resistance, especially around $105, which is a strong resistance level. It is expected that the price will continue to test below this position in the short term.
Short-term trend callback:
The 4-hour chart shows that Litecoin’s short-term trend is starting to pull back, looking for a foothold, especially support near $96. The second support level below is focused on the $94 mark.
MACD and KDJ indicators:
MACD shows a decrease in heavy volume, and the K line is blocked upward, indicating that the short-term short signal is obvious. The KDJ indicator has not yet closed, and the K line has been trading sideways above the middle track of the Bollinger Bands, suggesting that the price may continue to fluctuate.
Idea suggestions:
When the technical aspect shows obvious short-term short signals, it is recommended to focus on low and long positions, supplemented by high positions, operate with caution, and pay attention to stop losses.
