- Litecoin price prediction expects a rise that can go up to $52.
- Litecoin price finds strong support at the $46.20 mark.
- Most analysts expect a rise in the price within the $49-52 range.
- A drop can take the price as low down as to $36 mark.
Per the Litecoin price prediction by the Trading View analyst Douglas, the LTC price will rise towards the $52 mark soon. Previously, the cryptocurrency fell towards the $45 mark after trading above $46.2 throughout the day.
1-Day Litecoin price analysis
Litecoin was priced at $45.37 US Dollars at the time of writing on Bitstamp. The cryptocurrency fell to the day’s low of $44.94.
Will Litecoin observe a breakout?
The Trading View analyst Sparta BTC believes that the LTCUSD trading pair is looking towards a breakout to the upside from a descending trend line.
Per the Litecoin price prediction, the cryptocurrency has been trading below this descending trendline from October 2017, when the cryptocurrency began to move towards its all-time high. The analyst explains in the chart above that the LTCUSD trading pair will enter a long position after breaking out of the symmetrical triangle pattern that it has been forming for 3 years now.
What’s next for Litecoin?
The Trading View analyst Solldy suggests that the LTC price has been trading above an ascending trend line from the 21st of September and it will now test a strong resistance line that is shown in red on the chart below.
Per this Litecoin price prediction, the cryptocurrency will move towards the $48 mark next. The analyst used the 1-hour chart for this technical analysis of the cryptocurrency. The ascending trend line is expected to lead the price trajectory above the $47.50 mark. This resistance line was previously a support until the price turned bearish and fell on the 21st of September. If the support-turned-resistance is tested and broken, Litecoin will see further uptrend with a high bullish momentum.
What to expect from the LTC price?
The Trading View analyst Vince Prince believes that the LTCUSD pair will form a head and shoulders pattern on the 2-hour chart.
The idea suggests that the cryptocurrency has already formed the left shoulder and the head from the pattern. Per the analyst, the price will now rise towards the Exponential Moving Average marked in blue, where it will also meet the ascending resistance in black and the descending resistance in red.
All of these resistances form a resistance cluster in the area marked, which means that Litecoin has a very little chance of moving above this region. Per the Litecoin price prediction, the LTC price will fall towards the neckline marked in blue after it bounces off the resistance cluster. The bears may even cause the price to fall below the blue support and move towards the $42.1 mark. This indicates a significant price reversal for the cryptocurrency.
Litecoin price prediction: rise to $52.9 next?
The Trading View analyst Douglas believes that the LTCUSD trading pair will rise towards the $52 mark soon.
Per this Litecoin price prediction, the trajectory will rise towards the $48 mark next, after which it will see a brief pullback which will then be followed by a bull run towards the $52.982 mark. This is also the target price for this trade. The stop-loss was marked at $42.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
