After opening above $300 on Tuesday, Litecoin price started to correct lower, and traded below $280. The upside was limited and the LTC/USD pair moved into a bearish zone. It almost tested the lower end of the range support, where buying emerged. The price is currently trading near $290 and it is finding buying interest close to the $300 level. It is currently facing resistance near $296 and a breakout pattern is forming with resistance near $300. It is trading in a range with support near $290 and resistance near $300.
As you probably know, there are two sides to every trade: the buyers and the sellers. As with other cryptocurrencies, the price of Litecoin can be very volatile at times. But, there are certain factors that affect its price more than others. Today, there are several reasons why the price of Litecoin might continue to rise.
While the cryptocurrency market has been on fire over the past few months, no coin has been hotter than Litecoin. After starting the year below $4, it has more than quadrupled to as high as $20, and while the enthusiasm has cooled off a bit, LTC is still the third most valuable coin with a total market value of over $18 billion. The latest Litecoin price prediction from Thomas Lee, cofounder and head of research at Fundstrat Global Advisors, says that Litecoin will surge to $25 this year. Lee notes that the recently released Litepay debit card will give Litecoin the same level of accessibility as Bitcoin, which could cause it to surge in popularity.
- LTC has a highest price of $170.
- The next resistance is at $260.
- Next big support at $300
The Litecoin price outlook for today is bullish, as the market set a higher low overnight and is currently moving higher. The closest minor resistance level at $220 has already been broken, indicating an imminent move to the previous support and resistance level at $260. Heatmap for crypto-currencies. Source: Coin360 Overall, the market has seen mixed results over the past 24 hours. Bitcoin is up 4%, while Ethereum is down 1%. Meanwhile, Litecoin was one of the worst performers, losing nearly 13%. LTC/USD opened at $186 today after a strong downtrend that marked a new multi-month low around $145 yesterday. The market then tested further declines during the night, this time to a low of $170. We can therefore expect further increases in the coming days.
Litecoin price movement in the last 24 hours
The LTC/USD exchange rate was in the range of $167.64 – $224.96, indicating high volatility. Trading volume rose 14% in 24 hours to $10.4 billion. At the same time, the cryptocurrency has a total market value of just under $15 billion, putting it in 12th place overall.
LTC/USD 4-hour chart – LTC trades below $220
On the 4-hour chart, we can see that the bulls are trying to push the market up in the final hours to make up for some of yesterday’s losses. 4 hour chart LTC/USD. Source: TradingView The overall market continued to decline last week after reaching a new high at $413. The Litecoin price then made no progress, and a strong bounce back to the $300 support level took place. After that, the LTC/USD was unable to recover and slowly fell to the $260 level. After Litecoin hit a new low, the market saw a significant drop on the 18th and 19th. May a strong downward pressure. A quick rise to $145 showed that the medium-term correction is probably over and that we will see further gains in the coming weeks. Last night, LTC/USD marked a higher low at $170, suggesting that bearish momentum has been exhausted. Earlier in the day, Litecoin hit the $220-$230 level, where it encountered resistance. Therefore, we can expect further downward movement today. If a new higher low is reached above $170, we expect the market to continue moving higher for the rest of the week to reach a higher high, likely below the next major resistance at $260.
Litecoin Price Forecast: Supplement
Litecoin’s price outlook is bullish now that the market moved back down overnight and established a slightly higher low around $170. Over the past few hours, the LTC/USD price has risen and tested resistance at $220. Therefore, after a slight correction, we expect further gains for the rest of the week. In anticipation of further Litecoin price movements, read our guide to Litecoin mining software and our guide to mining. For more information, see our article on investing in cryptocurrencies. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Litecoin (LTCUSD) started to show signs of a bounce today in early trading, after its LTCUSD price broke below the key $72 level on December 6th. Litecoin is a peer-to-peer cryptocurrency and open-source software project. Litecoin is a fork of Bitcoin, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI for its client. (See more: Litecoin price prediction ). Read more about litecoin live price prediction and let us know what you think.
Frequently Asked Questions
What will litecoin be worth in 2020?
Litecoin (LTC/USD) got a bump today in a move to retrace some of the losses that were incurred after the US Securities and Exchange Commission (SEC) rejected the application for a bitcoin exchange-traded fund (ETF) listed by Cameron and Tyler Winklevoss. Although this is a setback for bitcoin, we believe that the top digital currency will remain firm in the $7,500 and $8,000 levels. In fact, we predict that litecoin will be worth $200 by the close of 2020. Over the past year, litecoin has emerged as one of the most popular cryptocurrencies available, and a favorite for miners. This digital currency offers a similar set of features to the more popular bitcoin, but with faster transaction times. Overall, litecoin has demonstrated more staying power than other cryptocurrencies, and its future looks bright.
How far down will litecoin go?
With prices rising across cryptocurrency markets, many investors are looking to cash out. With the recent slump in the price of litecoin, some traders are looking to sell their litecoin for bitcoin or fiat currencies. However, the question remains: how far down will litecoin go? Well, some analysts are forecasting a drop of up to 50% in the next few days. However, even at the lowest point, litecoin will likely remain roughly double its price at the beginning of the year, which is still a significant gain. The bear market is back with a vengeance! After hitting an all-time high of $360 on January 6th, litecoin’s price is now down 25% at $250, and that’s just in the last 24 hours. The reason for this sudden drop is that China’s three largest exchanges, which make up more than 90% of all trading, have announced they will no longer be accepting new deposits in yuan on their litecoin exchanges.
What will litecoin be worth in 2030?
So maybe litecoin is up 10% from yesterday, but how will it look in a decade? With a supply of 84 million litecoin, that gives litecoin a total market cap of $4.84 billion, which is still far behind silver, which sits at $30 billion. Does that mean litecoin is going to go to $30 billion? No, that would be ridiculous. Instead, litecoin will probably slide into its role as a cryptocurrency, a liquidity instrument for traders and a store of value for investors. This is good news for investors, as prices are likely to continue to rise as demand for litecoin increases. Bitcoin has always been the leader of the cryptocurrency movement. While advancing blockchain technology, it has also constantly been the benchmark for all other coins. Litecoin, the silver to bitcoin’s gold, has often been its sidekick, but now litecoin is on pace to pass bitcoin in terms of market cap. So, what will litecoin be worth in 2030?
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