- LTC reaches $350.
- Previous all-time high at $335 now to act as a support.
- Litecoin gains almost 15 percent today.
Today’s Litecoin price prediction is bullish as the market continues trading in a strong bullish momentum after breaking above the previous all-time high at $335. Therefore, we expect LTC/USD to move higher later today.
The overall crypto market continues moving higher today. Bitcoin has returned above the $57,000 mark and has gained more than 5.5 percent. Meanwhile, Ethereum has retraced over the past hours and trades with only a 0.5 percent gain.
LTC/USD opened at $305 today after a volatile price action yesterday resulted in a slightly higher close. Earlier today, LTC/USD started pushing higher once again and so far has already reached $350, indicating extreme bullishness. Therefore, we expect Litecoin price to continue higher over the next 24 hours as bulls aim for the next major round-number price target at $400.
Litecoin price movement in the last 24 hours
LTC/USD moved in a range of $294.16 – $350.78, indicating huge bullish volatility. 24-hour trading volume has increased by 26.77 percent and totals $13.1 billion. Market cap stands at $23.5 billion, ranking the cryptocurrency in 10th place overall.
LTC/USD 4-hour chart – LTC trades below $350 as bullish market momentum continues increasing
On the 4-hour chart, we can see LTC/USD continuing to push higher after reaching the next milestone price at $350.
Litecoin has recovered from the several-week bearish momentum seen over the second half of April. After previously peaking at $335, LTC/USD lost 35 percent until support was found around $220. From there, Litecoin price consolidated for several days until another brief spike lower ended the consolidation, and Litecoin started rallying once again.
Over the next couple of days, Litecoin slowly pushed higher until the $260 mark, where another several-day consolidation was set with a range of $250-$260. On the 30th of April, Litecoin set a new local higher high and continued further until the resistance at $290 was broken. LTC/USD peaked at $290 and saw a sharp retracement back below $280, allowing for more bulls to get in with a discounted price.
Yesterday, Litecoin rallied further and reached $327.5, after which another brief retracement was set to the $300 mark. Overnight, LTC/USD gained even more momentum and quickly breached the $335 previous all-time high. After some consolidation, further highs were set, leading to the current test of the $350 price target.
Since there are still no signs of a trend reversal, we expect Litecoin price to continue moving higher over the next 24 hours. The next major target at $400 could be reached by the end of the week, although LTC/USD has already gained more than 60 percent, meaning that a reversal could be seen soon.
Litecoin Price Prediction: Conclusion
Litecoin price prediction is bullish as the previous all-time high has been broken, and bullish momentum still continues as the next target at $350 was reached earlier today. Therefore, we expect LTC/USD to move higher over the next 24 hours.
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