Litecoin broke key support on July 6. The price slid down from $85 and broke the bullish trendline. This paved way for more losses and the Litecoin began trading below $82. The price experienced a rise due to building buyer pressure but the gain was short lived.
LTC is currently trading at $82.567 against USD. It is trading at a loss of 0.66%. Litecoin is facing a consolidation phase and is trading in arrange of $82-$83. The swing low for the day is at $82.095 and the latest swing high is at $83.25. This indicates that the seller pressure is hindering the price to rise above the key resistance level of $85. The 200 EMA line is traced above the current price suggesting a downtrend in price.
Currently, one LTC is equal to 0.01263BTC. LTC is trading at a loss of 0.40% against BTC.
LTC Price Prediction
According to Walletinvestor, the Litecoin price can go up from 83.085 USD to 204.249 USD in one year. The price in five years is predicted to be 766.710 USD. LTC has a long-term earning potential of 145.83% in one year.
According to Longforecast, LTC price by the end of the year would be $40. This will imply a loss of 50.6% for the coin by the end of the year. By 2020, the coin prices are predicted to reach $126 which will signify a gain of 55.6%.
According to Investingpr, Litecoin has the potential to scale far beyond anything Bitcoin is capable of at the moment. If the rate of adoption along with the number of developers working increases there are chances for a price hike. According to Oracletimes, the Litecoin price will be $1000 by 2020.
Coindesk believes that if Litecoin stays above $240 for a short period of time, then it could reach the $300 mark quite soon. Litecoin could benefit from the positive news of founder, Charlie Lee, and the launch of its new features.
Litecoin is a cryptocurrency which is built on state of the art technology. The technology is touted to be far more superior to bitcoin. The cryptocurrency’s performance indicates a positive direction.
Legal Disclaimer: The content of this website (bcfocus.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on bcfocus.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Bcfocus.com does not accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to the website.
Image via Shutterstock
Join our Telegram group