Litecoin price analysis 7 June 2019; bullish trend forming as we speak! Can it hit $150?

Litecoin does not disappoint, aside from the last couple of days that it disappointed us, but that’s beside the point and a personal wound that is yet to heal.

Thankfully for most Litecoin investors though, the coin has begun yet another climb upwards and is slowly closing in on its previous 2019-high of $119. In fact, it looks like it won’t have any issues surpassing it, even without the help of a massive Bitcoin push.

Everybody was expecting LTC to fail at the $100 resistance level and fall through down to as low as $80, but luckily that didn’t happen. Now we get to rub our hands maniacally and predict how can the coin finally reach $150 that we’ve all been anticipating.

For one thing, we can definitely say that Litecoin has been the healthiest over the course of the last week. While most other coins were struggling to break their resistance levels, Litecoin smashed it and went up to $116.

But what’s most important to drive out of this bull run, is that Litecoin is slowly becoming its own cryptocurrency again, and not tied to BTC anymore. It’s most likely that the halving will guarantee an independent growth pattern.

LTC price chart

LTC chart by Trading View

Right now, LTC is well supported at the $110, which it’s around $6 away from, meaning that it still has some room to manoeuvre, and a small bearish breakthrough will not affect it too much.

What we can say for sure is that, no matter how bad Bitcoin falls in the next few days (unless it falls below $7000), LTC will be able to retain its above $100 level.

If it continues the growth pattern we can have a $150 LTC at the end of the week. After that comes the long wait of August for the halving to milk as much as possible from LTC.

Once again, we deem LTC as the best crypto investment of 2019, and May-June as the best time to enter the market.

Litecoin price analysis 7 June 2019; bullish trend forming as we speak! Can it hit 0?Join eToro and get $50 cash to start trading!

Join millions who’ve already discovered smarter investing by automatically copying the leading traders in eToro community for fast profits.