- Litecoin price prediction expects a rise to $64.
- Analysts are hopeful Litecoin would rise past $60.
- Current support levels are found at the $55 mark.
The Litecoin price prediction by FXCM suggests an uptrend towards the $64 to take place next. Litecoin formed a downward slope on the 28th of October, after which it came to a rest near the $56 mark.
1-Day Litecoin price analysis
The lowest pricing for Litecoin over the 24-hour trade was recorded at $54.72. At the time of writing, it traded at $56.01.
What to expect from LTC?
Per Solldy’s analysis, a short opportunity is up for the LTCUSD pair. The cryptocurrency has hit the falling resistance thrice, and the bullish momentum was not enough for the cryptocurrency to exhibit any breaks.
The price was accumulating between the $44 to $52 range, after which it moved upwards on the 21st of October. The cryptocurrency tested the falling resistance on the 24th of October, and now the price has started to move downwards. This means that LTC has entered a short opportunity, with an entry-level near $57. If the price moves towards the rising trendline, it will hit a target price near the $48 mark. The stop-loss for this order would be the $60 mark, which will be reached if Litecoin breaks above this trendline. The horizontal resistance for the setup was marked at $64.
Litecoin price prediction: What’s next?
In another analysis for the LTCUSD pair, the analyst expects the price to move towards the $64 mark.
The stop-loss for this order is at $54.62. If Litecoin falls below this mark, it will enter the Ichimoku cloud, and the trade will be canceled. The buy-entry was at $57.64, and the price was shown to travel above an ascending trendline and move towards the $64.08 mark, which is where the take profit lies.
Litecoin expected to break triangle patterns
The LTCUSD pair appears to have formed triangle patterns on the charts. The Trading View analyst Bromadic believes that the cryptocurrency will soon break upwards from the descending triangle sketched on the monthly time frame.
The bottom of the trade is at $29, and the cryptocurrency has been trading inside the triangle for just under 3 years. The price is heading towards the conclusion of the triangle pattern, which is also why the price volatility has greatly decreased, and it continues to decrease. Eventually, the price will break towards the upside. The analyst believes that the price will see an uptrend that will lead it towards the $600 mark on long-term trade.
Another Trading View analyst Blorenz believes that the price has moved towards the end of a symmetrical triangle and it will soon see a breakout.
Per the chart, the price has been in the triangle from March 2020. Before the end of this year, the price is expected to break towards the upside. The analyst believes that the breakout will lead the price across the $80 mark. The take profit lies between the $80 to $150 levels.
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.