Litecoin(LTC) Prices Hike: Technical Price Analysis and Prediction, Expert Opinion
Litecoin(LTC) gained momentum after the slump last week and found support for further gains on Monday. The past week has rallied around 8% for the coin and is clawing its way to $100. The close this week indicates a major hike in prices according to technical charts. Litecoin is currently placed at the 6th position on Coinmarketcap by virtue of market capitalization.
Litecoin(LTC) Price today
Currently, LTC is trading at $85.69 and shows a rise of 7.27% in the last 24 hours. The market cap of the coin is estimated at $4.9 billion and it has a trading volume of $3.5 billion. LTC broke the major resistance zone set near $84-$85 levels and is trying to touch $90. The support level of $83 has not experienced any breakouts which connote that the coin is trading at a bullish trend. The bear market pressure can cause a consolidation of the LTC/USD pair before finding a new uptrend.
LTC has had a marginal gain of 3.7% against Bitcoin over the past 24 hours. At the time of writing one LTC is equal to 0.013 BTC.
LTC’s Market Performance over Different Time Periods
LTC: Last 7 days
Support Level: $73.25
Resistance level: $81.02
Gain: 5.7 %
LTC: Last 30 days
Support Level: $ 91.43
Resistance level: $101.69
LTC: Last 90 days
Support Level: $143.22
Resistance level: $180.23
LTC price prediction 2018
According to Finder, the LTC prices are predicted to range from $60 to $97 by August 1, 2018. By December 31, 2018, the price of Litecoin is expected to increase by 90%, to $153 on average. Tichler predicts the price to reach $250 by the end of the year.Weight forecasts a jump to $165 for Litecoin by December 31, 2018. He says, “Litecoin is a hidden gem that is going to get more recognition by the end of the year.”
According to Smartereum, “At the moment, Litecoin (LTC) is in the oversold territory. The value of Litecoin declined drastically, and there are so much panic selling and market overreaction. Almost all LTC holders are considering selling. In the financial market, when an asset goes deep into the oversold zone, the value of the asset is expected to rebound in no time.”
According to Ethereum World News, “Dips in litecoin price may perhaps find support near the $86.00 and $84.00 levels in the near term. On the upside, a break above the $90.00 resistance could clear the path for a run towards the $100.00 handle.”
LTC, Recent News
- Litecoin (LTC) founder Charlie Lee recently released the full schedule of the upcoming Litecoin summit. The summit will include the Litecoin team, RSK Labs, a number of influencers and industry experts who are to meet in San Francisco.
Investors are optimistic about LTC as the coin shows great potential and also has stable prices. As a respected player in the market, the coin is bound to hold longer with the introduction of Litecoin futures. According to Charlie Lee, the Litecoin founder, the futures function will make the coin more legitimate and is soon becoming the natural institutional investor natural choice. This can mean a boost for LTC in the crypto market.
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