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The LTC price is moving up nicely today as bulls are in full control. Cryptocurrency traders and investors are looking past the recent Litecoin price decline, as the bulls are pushing the Litecoin price back up. Right now, the Litecoin price is only $8.30, and it is up 12% on the day. The Litecoin price has moved up to just below the $50.00 level, and there are signs of more gains moving forward.
Litecoin (LTC) has been one of the best performing coins in the cryptocurrency market. The coin is currently trading at $85.59, which marks an impressive price increase of close to 500% over the past 30 days. Although the market has been in a bearish run for quite some time, LTC has been one of the only coins that has been able to sustain its momentum.
Litecoin is targeting the $300 mark after resuming a rally that has sent the cryptocurrency up nearly 5% in the past day.
Litecoin is up nearly 5% in the past 24 hours, which is enough to maintain its position as the tenth largest crypto currency by market capitalization. This mini-rally comes despite mixed momentum in the broader crypto-currency market.
LTC broke through the first major support at $264 and reached an intraday high of $299.71 yesterday. A pullback has taken place, but the crypto-currency has established support at $287 and has been trading in that area for the past few hours.
The price of LTC is expected to rise in the coming days or weeks, especially with the recent one-year spike in hash prices.
The Litecoin hashrate is at its highest level in a year. It’s favorable for Litecoin! $LTC pic.twitter.com/zatrWrSO6p
– Litecoin. Litecoin forever. (@LitecoinForever) 3. May 2021
LTC Price Forecast
The 4-hour chart of LTC/USD shows that the cryptocurrency is in a positive trend and could maintain it in the coming hours. LTC’s MACD line is in bullish territory and price is trading relatively high above its 100-day simple moving average ($258.58).
4 hour chart of LTC/USD. Source: Coincide
Litecoin must avoid falling back to the $287 reversal level if it is to make a run at the first significant resistance level at $307. However, Litecoin needs support from the general market to reach and surpass Monday’s high of $299.71. Unless the market starts a sustained rally, Litecoin will struggle to break through the first major resistance. On a major breakout, the LTC/USD pair could test resistance at $320 and the second major resistance level is currently at $319.
However, if the Litecoin price fails at the $287 support level, there could be a decline leading to the first significant support level at $276. Barring a prolonged selloff, Litecoin is expected to stay away from levels below $270 and FIB 23.6% at $262. Currently, the second major support point for Litecoin is at $257.
For anyone who missed the epic cryptocurrency boom of 2017, Litecoin was one of the best performing cryptocurrencies of that year, reaching an all-time high of $40.34 on the 14th of December. In the overall market cap, it ranks 5th, just below Bitcoin and Ethereum, which currently have market caps of $192.5B each. With a market cap of $13.5B, Litecoin is currently one of the most valuable cryptocurrencies in the world, with many experts believing it has what it takes to reach the $1,000 mark in a matter of years (if not months). Litecoin is one of the most popular cryptocurrencies on the market. Its value has been slowly increasing for several years now, although it’s still far from reaching its peak value of 4.30 USD per coin. If you want to know if litecoin could be a profitable investment for you, you may want to look at how the currency has been doing the last few months. These are all of the reasons why we think that litecoin will reach $10,000 per coin in 2030.
What will litecoin be worth in 2020?
As everyone knows, litecoin is the silver to bitcoin’s gold. But, after bitcoin went bonkers, it has fallen behind. It’s good to see, then, that litecoin has been gaining its footing, and has the potential to be a strong contender for the cryptocurrency crown. We asked experts at darknotetalk what they thought, and they told us litecoin will be the next coin of choice. Another week, another record-breaking day for cryptocurrencies. Just the other day, in fact, litecoin passed the $100 mark for the first time, though it hasn’t managed to stick to that level for long. (The coin is hovering at around the $95 mark at the time of writing.) Fans of litecoin have been celebrating the rise, while critics like Morgan Stanley’s James Faucette have been issuing litecoin price predictions that suggest it’s only a matter of time before it comes crashing down.
Is LTC undervalued?
You’ve probably heard of Dogecoin or Bitcoin by now. If you’re like me then you’re probably wondering when the next big Cryptocurrency is going to take off and explode in value. I think Litecoin is that coin. Let’s look at a few reasons why: Litecoin has been in the news lately, but is it just a flash in the pan? We think not. At the time of writing, the Litecoin price is $3.85, but just a year ago the price was a mere $0.016. This represents a growth of over 3,000%, and we expect to see a similar growth in the coming months and years.
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