It is almost a month after the release of Litecoin 0.16.2, and it’s been a busy time for the LTC team. While a lot of work has been done behind the scenes, the only thing the public can see is the fact that Litecoin has been improving steadily over the last month, stabilising at a little over $120 a pop. A quick check on the hourly charts shows that the price is slowly moving up and holding at a $150 level. The next big thing to come could be an appreciation in the next few weeks, especially if the news keeps coming that the BTC-to-LTC exchange is close to launch.
Litecoin’s price has been hovering around the $100 mark for the past few months, but a recent rise to $130 has caused the digital currency to level off and approach the $150 mark. The digital currency has now moved up to second place in terms of market capitalization, just behind Bitcoin, and it is a contender for the top spot once again. Litecoin’s price is high, but it is likely to keep rising since it is a currency that is gaining traction among merchants that accept it as payment.
Litecoin is often seen as a Bitcoin alternative, but with a different focus. Whereas Bitcoin is focusing on the use of its own blockchain, Litecoin is trying to branch out into the world of smart contracts. The two coins are closely related, but the focus of Litecoin is on gaining popularity in a different way.. Read more about litecoin predictions 2023 and let us know what you think.
Over the weekend, the cryptocurrency market rallied, and Litecoin’s price rise may see it hit $150 shortly.
Several cryptocurrencies rallied over the weekend, indicating a good weekend for the cryptocurrency market. Bitcoin has finally broken over the $35k resistance mark and is now trading slightly around $38,000. Ether is also well over $2k, and it is approaching the $2,500 barrier level.
The cryptocurrency Litecoin was not left out, with its price increasing by 9% in the last 24 hours. The surge may continue after hitting $130, and the cryptocurrency’s price could approach $150 for the first time since June 21.
LTC Price Predictions
The LTC/USD 4-hour chart is now extremely optimistic, owing to the wider cryptocurrency market’s prolonged rise. On the 4-hour chart, LTC is currently well above its 100 simple moving average (SMA) at $124, providing particularly strong support in that area.
The moving average convergence divergence (MACD) line has crossed into positive zone, indicating that the rise may continue provided market circumstances remain stable. The relative strength indicator (RSI) for Litecoin has also reached the overbought zone for the first time in nearly a month.
4-hour chart of LTC/USD. Source: Coinalyze
The price of LTC is now $137 per coin. If the present surge continues, Litecoin may soon break over the $144 resistance level and reach the $150 mark. Over the following several hours or days, a prolonged market surge may see the LTC/USD pair try to hit $170. The prolonged rise, on the other hand, is contingent on the success of the wider cryptocurrency market.
If the bears take control of the market, Litecoin’s weak support around $130 may be lost. It’s possible that the price may drop much lower, below $120. The $108 support level, on the other hand, should prevent any further decline that might see Litecoin go below the $100 mark.
Litecoin has been going through a rough patch lately, and is currently hovering around $115. The coin’s price recently hit $135 at the end of 2017, and many people are wondering what the future holds for Litecoin.. Read more about litecoin price prediction 2023 and let us know what you think.
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