TL;DR Breakdown
- Litecoin price prediction expects a rise above $200.
- Strong resistance lies at the $166.8 mark.
- Strong support lies at the $146 mark.
Litecoin had been observed to not move up with such vigor that other major cryptocurrencies have been displaying over the past few days. However, the modest movements of the cryptocurrency do not indicate bearish pressures as Litecoin is still on a gradual upward trend. The daily high for Litecoin was $166, while the 24-hour low was $147. At the time of writing, Litecoin stands at $163.
Out of the total twenty-eight technical indicators, seventeen are giving out a buy signal, whereas seven are neutral, and four indicators stand on the buy signal. While the majority of the oscillator indicators are neutral with 3 sell indications and 2 buys. Most of the moving averages are giving out a buy signal with just 1 sell and 1 neutral.
Litecoin price predictions: What to expect?
Analyst Boss Modetrader has identified Litecoin to have formed an Adam and Eve pattern in their Litecoin price prediction. The Adam and Eve formation is indicating a Litecoin breakout to the upside. Right after the breakout from the formation, a lot of ‘noise’ can be expected. The noise is a source of some major fluctuations in the price action of the coin. The current noise of Litecoin can serve as a good opportunity for short-term traders.
As for long-term investors, Litecoin can be expected to continue its upward hike after some minor corrections in this zone. The analyst expects Litecoin to reach the $250 level soon, and establish a new all-time high. The technical indicators like RSI and MACD are also bullish, further strengthening the bullishness of Litecoin. As per the analyst, Litecoin’s future seems hopeful as of now, and it can be expected to achieve even higher levels.
In analyst Kyer’s Litecoin price prediction, the coin is currently seen to be striving for the 2-year valley. Litecoin has successfully crossed the 2019 high level and has established it as a support level. Litecoin’s last move towards the 2-year rally was unsuccessful and it ended up testing the 2019 high level as support. The analyst is expecting Litecoin to be successful this time. The potential target levels are $171 and $183. If Litecoin is not successful then support can be found at the $145 and $136 level.
In his Litecoin price prediction, analyst Wyckoffmode is expecting the upward pressure to continue as the wide energy – 12-day and 6-day – does not appear to be displaying any bearishness. Per the analyst, Litecoin is bullish and can possibly go up to the 1.618 Fibonacci retracement level at around $330 level, provided that the coin maintains its current upward trajectory.
Most analysts suggest a long position and expect Litecoin to break out to higher levels, not all analysts agree. Analyst Solldy is not as hopeful in his Litecoin price prediction. Per the analyst, Litecoin tried to test the resistance line, but it failed a few times over the past few days. The analyst expects Litecoin to retest the resistance line, but it is likely to fail, unfortunately. Solldy believes that the cryptocurrency is expected to stabilize at the support line at around $140.
