Litecoin (LTC) to break past the mark of $100 very soon
Litecoin (LTC) has been going through a bad phase. In the past few months, the went down from $366 to $88 and the price traded within a well-defined triangle.
However, it is now appearing to be rebounding from that level and is slowly moving ahead towards the resistance line. It is difficult to say if it will break the triangle and regain its position in this attempt but it would surely break the $100 mark in the future. It is to be noted that the RSI level now in the oversold territory and whenever it happens, the price bounce back. According to Crypto Daily report, it might coincide with a retracement from the resistance line (upper portion of the triangle) between July and August. And, this kind of movement is more like a boon for institutional investors who would like to buy as much as possible before the next bullish wave.
Currently, the price is trading in the middle of the bullish channel and could go either way based on how the market’s future. However, since it hit the bottom in January 2018 and the oversold RSI conditions hints Litecoin price will rise upwards. It will go up to touch the top of the channel by January 2019.
Litecoin’s (LTC) future
Meanwhile, a team of 10 blockchain and cryptocurrency experts from Finder.com predicted the future of the cryptocurrency. According to Finder, the crypto might move up to a value of $130.17 by July 1, 2018. If that happens, it will be an increase of 8% from Litecoin’s recorded price on May 30, 2018. By the end of the year, the team believes that it could at the most reach up to $149.00, which means it will be up 23% from the May figure. Currently, at the time of writing, Litecoin is valued at $97.77. It slipping past $100.00 for the first time since it boomed in December when it was valued as high as $371.03.
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