Despite the ongoing market turmoil and top altcoins plunging below their important support levels, the Litecoin price has maintained its value above its important support of $125. This highlights a strong bullish dominance for the altcoin this month.
Considering the present market sentiments, will the LTC coin price maintain its upward trend and record a new monthly high soon? In this article, we at CoinPedia have uncovered the short-term market sentiments and possible Litecoin (LTC) price analysis just for you.
Will LTC Price Record A New 52-week High Soon?
The price of Litecoin has maintained its bullish action by adding 10.72% in 24 hours and 15.95% over the past week. Furthermore, this altcoin has surged 12.23% in the last 30 days and has a Year-to-Date (YTD) return of +32.56%, highlighting a strong bullish influence.
The Simple Moving Average (SMA) constantly supports the Litecoin price chart in the daily time frame. This highlights a strong bullish outlook for the altcoin this week.
Moreover, the RSI indicator has successfully retested its neutral point, resulting in it recording a sharp rise toward the overbought range. On the other hand, the average trendline constant acts as a support, suggesting that the price may continue gaining value in the upcoming time.
How High Will Litecoin Price Go?
Suppose, the bullish sentiment sustains, this could result in the LTC price retesting its immediate resistance level of $147.25. Maintaining the price above that level could push the price toward its upper price target of $180.
On the contrary, if the bears outrun the bulls, the price of Litecoin could drop toward its support trendline of $115.50. Furthermore, if the bearish sentiment intensifies, the price of this altcoin could pull toward its lower support trend level of $100.
Are you among many wondering if the LTC price will hit $1000 this AltSeason? Read CoinPedia’s latest Litecoin Price Prediction today to uncover the possible mysteries until 2030 and between!
FAQs
If the bullish sentiments are sustained, the LTC token could reach a maximum trading value of $200 this year.
With increased adoption and rising bullish action, the LTC price could range between $402 and $528 during the year 2030.
At the time of writing, the value of one Litecoin token was $132.50.
Credit: Source link
