Litecoin [LTC] Technical Analysis and Price Prediction 2018, 2020
Litecoin [LTC] is posting solid gains after spending most of last week in a downtrend. Litecoin is tracking gains in the broader cryptocurrency market, on account of a robust recovery seen in Bitcoin [BTC]. Though shaken by recent bearish trends, it looks like most digital coins have picked themselves up to trade at more reassuring levels.
The coin found support at $56.8 and has slowly edged higher. The crypto experienced a break out from the current resistance level, which can be traced at $58.9. The coin, at the time of writing, was experiencing a sharp rise in its price. We could see more gains in the days to come.
The 100 EMA line indicates that the digital asset is in a firm uptrend. At the time of writing, the MACD showed that the coin was trading in bullish territory. LTC is currently exhibiting a significant trading range of $55.1-$61.9. As of 2250 GMT, the virtual currency had gained 11.3 percent against the U.S. dollar to trade at $61.37.
At the time of writing, Litecoin [LTC] had risen 6.9 percent against Bitcoin [BTC]. Currently, one LTC is equivalent to 0.009 BTC.
Litecoin [LTC] Price Prediction 2018, 2020
According to Smartereum, many in the crypto community believe that the crypto could potentially end the year at around $600 or so.
Going by a forecast by investingpr.com, the price of the coin could reach up to $1,000 by this year.
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.
Litecoin [LTC] Latest Updates
Litecoin founder Charlie Lee recently tweeted that the Lightning Network can use LTC as Bitcoin’s sidechain. Transactions can happen across chains sans borders. He also promised faster and cheaper transactions with security assured by decentralized PoW mining.
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