TL;DR Breakdown
- Litecoin price prediction expects a rise to $173.
- Strong support lies at $140 mark.
- Strong resistance lies at $175 mark.
Litecoin’s all-time high at $225 seems to be a viable option for the coin at the moment. The cryptocurrency market has been booming for the past few days, and analysts expect major cryptocurrencies to break their previous all-time highs, following the king of cryptocurrencies – Bitcoin. Litecoin topped the day at $174 while the 24-hour low for the coin was $139.
Litecoin suffered from some rocky movements during the day but appeared to have been, somewhat, stabilized. The coin stands at $155.25 at the time of writing. Out of the twenty-eight technical indicators, eighteen suggest a buy, seven are neutral, and only 3 are sell. Out of these indicators, most of the oscillators are neutral while most of the moving averages indicate a buy signal.
Litecoin price prediction: What to expected?
Analyst Quant Guy pointed out a very interesting formation in his Litecoin price prediction. The analyst has identified a dragon head pattern. The coin is currently in the final stages of the formation and would be breaking out soon. As per the analyst, Litecoin is a safer option for traders as it has not been moving up as drastically as Bitcoin and Ethereum.
The price actions have been considerably modest, but it certainly does not indicate bearish pressures. The analyst expects the coin to continue hiking upwards gradually. However, some volatility may be expected nevertheless. The current price level of the coin is at the Fibonacci extension. The analyst expects the next target for the coin to be $173.
Analyst WallStreet Jhonny Dipzz identified an inverse head and shoulder formation, in their Litecoin price prediction. The analyst expects the coin to break out towards the upside from the formation and move to higher levels. The cryptocurrency is bullish as of now, and it appears to stay that way for a while, at least until the cryptocurrency market is in a bull.
Analyst M Fariello is very optimistic for Litecoin’s future in his Litecoin price prediction. The analyst expects Bitcoin to rise to at least $38,000, and when that happens, it will help Litecoin hike up. The analyst has confirmed the formation of an Adam and Eve formation. The formation, although a tad bit flattened, is an indication of future price hikes for Litecoin.
The analyst expects strong support at $139 level, and if the support holds, then bullishness can be confirmed for the coin. So far, it seems as though the support level is going strong. As per the analyst, Litecoin can cross the $245 level in the mid-term. However, if the coin cannot sustain the $139 support level, then it can be expected to drop to $100, which is an unlikely scenario according to the analyst but not impossible or improbable.
Majority of the analysts seem to be in agreements about Litecoin’s future. The future appears to be bright, and Litecoin is expected to continue its upward trajectory towards its all-time high. In their Litecoin price prediction, analysts expected an upward trajectory to at least the $160 level; however, corrections may follow after the rise.
