Right now’s Litecoin worth prediction is bullish because the market continues shifting greater after breaking above the $220 mark with out a lot resistance and at present assessments the $230 mark.
Cryptoforex warmth map. Supply: Coin360
The general market continues reaching new highs at present as good points are seen throughout each main altcoin. Bitcoin and Ethereum – market leaders, have gained stable floor with 4.5 and 6.7 % good points, respectively. Finest efficiency is seen for Litecoin, as it’s up by nearly 7.5 %.
LTC/USD opened at $220.83 at present after very bullish yesterday, throughout which the worth of Litecoin gained 10 % from the low of $200 to the excessive of $220. No indicators of stoppage are seen for the present worth momentum. Subsequently, we anticipate the Litecoin worth to proceed shifting greater over the weekend and attain the all-time excessive of $245.
Litecoin worth motion within the final 24 hours
The LTC/USD worth moved in a spread of $209.96 – $228.46, indicating an excellent quantity of volatility for the market. Buying and selling quantity is up by 2.63 % and totals $6.94 billion, whereas the market cap of $15 billion ranks Litecoin in ninth place.
On the 4-hour chart, we are able to see steady bullish worth motion for the previous 24 hours because the market has not had vital retracement of consolidation since reaching the $200 mark.
LTC/USD 4-hour chart. Supply: TradingView
Total, the market has had tough occasions over the previous month. After setting a brand new all-time-high round $245 on the finish of February, Litecoin reversed and retraced by nearly 40 % to the low of $155.
From there on, Litecoin bounced to the upside and regained a lot of the loss because it discovered resistance round $195. After a short rejection, Litecoin discovered assist on the $170 mark. From there on, the present bullish momentum for Litecoin began.
Earlier this week, the Litecoin worth then examined the $195 mark, and a few resistance was discovered. Nevertheless, after a few hours and a small pullback in the direction of the $180 mark, Litecoin did handle to interrupt the resistance and consolidated across the $200 mark for a while.
On Friday, Litecoin began to push greater once more and rapidly reached the $220 mark, which beforehand acted as each very robust assist and resistance final month, when Litecoin set the $245 all-time-high. The market momentum rapidly broke above the $220 resistance and allowed Litecoin to succeed in the subsequent resistance round $230. If LTC/USD can proceed its present bullish momentum and break above the $230 mark, we’re more likely to see the all-time excessive of $245 examined tomorrow.
Alternatively, if the $230 resistance rejects Litecoin, we would see a robust retracement – probably in the direction of the earlier consolidation space round $200-$210. Litecoin will probably type a base and the next low from there on, from which to push in the direction of breaking the all-time excessive. This is able to be a wholesome correction for the market as there has not been a good retracement for a number of days now.
Litecoin worth Prediction: Conclusion
Litecoin worth prediction is bullish as there are not any indicators for the present momentum to decelerate. If $230 present resistance is reached, we anticipate Litecoin worth to push in the direction of the all-time excessive of $245 subsequent week and probably set a brand new all-time excessive, indicating that we would see this month shut with substantial good points.
Suppose the present resistance across the $230 mark really gives resistance and rejects additional bullish momentum, we’re then more likely to see Litecoin retrace for a few days and set a brand new greater low in preparation for additional upside subsequent week.
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