Litecoin, the sixth largest cryptocurrency, is up over 40% this week in terms of its US dollar value. The rally has been fueled by good news from the Litecoin development team, which has released its next client, Litecoin Core 0.16.0. However, the cryptocurrency may be heading for a rocky period as it approaches the $200 mark, which may be tough to sustain.
The immediate reason for this review is that the Litecoin price has gone haywire, spiking to $180 within hours of the release of the Litecoin Foundation’s ‘International Payment System’, which was together with the Litecoin Foundation’s new Litecoin debit card.
Litecoin (LTC) is up more than 100% in the past month, and is currently trading at around $172. Litecoin opened at $138 on February 1, and has steadily climbed to the current price. This makes Litecoin the second best performing major cryptocurrency in the past 30 days, behind only Bitcoin. In this article, we’ll analyze the events that have created a bullish environment for Litecoin and conclude that it is about to breakout.. Read more about litecoin price prediction 2030 and let us know what you think.Summary of the situation
- Tonight, LTC tested support again at $170.
- The next resistance is at $200.
- The next resistance is at the $220 level.
The Litecoin price analysis for today is bullish as the market continues to hold the $170 support level from the past few days. The next target for Litecoin is still $220, the overshoot of which would be a further signal that the overall price action momentum in the market has shifted to the upside. Heatmap for crypto-currencies. Source: Coin360 Overall, the market traded with slight upward momentum over the past 24 hours. Bitcoin was up 1.47% and Ethereum was up 4%. The rest of the market is also trading with some bullish momentum, suggesting that we could see a higher market for cryptocurrencies later this week.
Litecoin price movement in the last 24 hours
LTC/USD traded in a range of $173 to $182, indicating moderate volatility. Trading volume over the past 24 hours is down 7.80% to $2.3 billion. At the same time, the total value of the market is $12.1 billion, which puts the cryptocurrency in 14th place overall.
4-hour chart for LTC/USD – Is LTC preparing for a rise?
On the 4-hour chart, we can see that Litecoin has retested the $170 support level over the past 24 hours and is now preparing for the next resistance at $200. LTC/USD 4-hour chart. Source: TradingView Overall, Litecoin has been moving sideways in recent weeks after a sharp decline from its previous all-time high of $413. With the market having already lost over 70% of its value, we believe the bears are out of breath and there will be no more downward movement this month. So, once the Litecoin price peaks above $200, the market will be bullish again. From there, the next resistance is seen at $220, which is another indication that the bulls are taking the initiative. After a strong high, a subsequent pullback to a higher low would indicate that the market is ready for a strong rally later in the month. Therefore, the best option at this time is to wait for further Litecoin price action in the form of a high hip and subsequent pullback.
Litecoin Price Analysis: Supplement
Litecoin price analysis is bullish as the market still holds support at $170. As a result, Litecoin is expected to finally start climbing this week to surpass its last local high at $200. From there, the next resistance at $220 should be broken later this week, which would be another signal that the bulls are taking over. In anticipation of further Litecoin price movements, check out our guide to Litecoin mining software. To learn more about the market leader, bitcoin, read our articles on how many bitcoins are left to mine and how to invest in bitcoin. 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.Following the end of a long and slow decline, Litecoin’s price has recovered from its recent low of $165. It is currently testing the $200 level, having just completed a double bottom-like pattern. If the two blue trend lines from the latest low follow through, we may be seeing the start of a new uptrend.. Read more about litecoin news now and let us know what you think.
Frequently Asked Questions
What will litecoin be worth in 2020?
As one of the oldest and most popular cryptocurrencies in the world, Litecoin seems to be a shoe-in for becoming the next big thing. Last week, its value hit a fresh all-time high at $193.91, putting it more than $30 above its previous high, which was set back in November of last year. In fact, it has gained over 2,500 percent in value since last August and is now in the top 5 of all cryptocurrencies. With an existing user base of approximately 4.3 million, it only seems reasonable that Litecoin will break out in the coming years. After a 2017 that saw Litecoin’s price steadily climb from $4.50 to $60, 2018 will be a year of consolidation for the digital currency. On January 1, the crypto world started with a new year, and a new set of rules. For first time adopters, it was a time to adjust their strategies and make the best of a new environment. For those who have been in the wild world of crypto for the last few years, it was a time to assess and reassess their positions.
Will litecoin reach $10000?
There has been a wide range of volatility in the cryptocurrency markets in 2017, which has led to many taking a wait and see approach to investing. But this is a mistake, as – while it’s still early days and a lot is going to happen – there are already signs that we are in for a highly profitable 2018. With the decentralization of bitcoin, which was considered the store of value (which the term cryptocurrency is derived from) and the oldest of the popular cryptocurrencies, has grown on to become the new ‘big boy’ in the cryptocurrency world. It has a market cap of $4.800 billion, and saw its price increase by 50% since the beginning of the year. Many people have an opinion on this, with some believing bitcoin will surpass $10000, while some believe it will crash and burn.
What will litecoin be worth in 2022?
Everyone is looking to make a lot of money and it seems that one popular way is to invest in Cryptocurrencies. Today we are going to be looking at one such cryptocurrency that has been seeing a lot of attention lately. I am talking about the Litecoin cryptocurrency. Does Litecoin have a future in the long term? Keep reading to find out more. LTC has worked its way back to the $200 price point, but the next step will be the key to a sustainable long term value. As the saying goes, there is no magic pill for weight loss; there are no magic pill that works in the long term to keep you at a healthy weight. For these reasons, it is best to establish a weight loss plan that will work for you, and will stick.
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