As the cryptocurrency market is slowly starting to attract bulls, Litecoin [LTC] has been performing quite well and has remained well away from selling pressures. The coin has already hit its highest level in more than a week. But this positive movement was expected, especially since the crypto has not performed as well in recent days. In the last seven days, LTC’s value had risen just 1.7 percent while in the last month, the coin’s price had climbed a mere 1 percent.
The virtual currency had earlier found support at $56.15. The coin has since continued its upward trajectory, but may not be able to scale to as high as $60. However, the current recovery is encouraging even as most major altcoins are only posting modest gains.
The hourly RSI indicator is currently at 58.4, indicating significant buying interest. The MACD, at the time of writing, showed that the digital asset was experiencing bullish momentum. The 100 EMA line indicates that LTC is in an uptrend. The coin is exhibiting a significant trading range of $56.02-$58.69. As of 1204 GMT, the virtual token had jumped 7.1 percent against the U.S. dollar to trade at $57.60.
At the time of writing, the crypto had risen 6.4 percent against BTC. Currently, one LTC is equivalent to around 0.0088 BTC.
Litecoin [LTC] Price Prediction 2018, 2020
- Steemit.com has predicted that the digital asset could reach $3,500 by the year 2020 while Longforecast.com expects the virtual currency to be in the range of $780-$1,374 in 2020.
- According to Smartereum, experts believe the crypto could potentially end the year at around $600 or so. Investingpr.com has forecast that the price of the coin could reach up to $1,000 by this year.
Litecoin [LTC] Latest Updates
Just this week, Bittrex – a U.S.-based crypto exchange-turned fiat gateway platform – announced that it would open USD markets for Litecoin [LTC] and Tron [TRX]. The USD pairs will be launched on the platform on Monday.
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