Home Cryptocurrency Litecoin price analysis: LTC likely to hit $147 again

Litecoin price analysis: LTC likely to hit $147 again

by Gordon James

Litecoin is a cryptocurrency that has shown a consistent increase in price since its inception in 2011. Since its start, Litecoin has increased in value by over 285% and its price is said to have reached an all time high of $417 per coin on December 2013. Litecoin has a market cap of $4.4billion and the coin reached a new all time high of $148 per coin on January 8th 2017, after reaching a high of $144 per coin on January 4th.

Litecoin’s price action has been supporting $155.8 as the immediate resistance for the past few days. A break above $155.8 could open the doors for another rally towards $168.0. In the shorter term, a break above $155.8 could lead to an extended move towards $162.0 and $160.0 (December high).

Litecoin is the next big thing in the cryptocurrency world. As the cryptocurrency with the largest market capitalization, it is a key factor in determining the success of other digital currencies. Despite having a much smaller market, the Litecoin price is still one of the most volatile and challenging to predict, and that is why you need to be well prepared if you want to take advantage of the Cryptocurrency market in the short term.. Read more about litecoin price prediction 2030 and let us know what you think.

TL;DR Summary

  • Beyond $144, Litecoin price research indicates a probable upward trend.
  • The price of LTC is now breaking over the present barrier level of $143.
  • The LTC/USD pair is expected to remain positive as long as volatility remains low.

During the month of July, the price of Litecoin has been fluctuating between $100 and $148. The price of LTC reached its lowest point on July 19th, when it was $104. The monthly high was reached on July 4th, when the LTC/USD pair touched a new high of $147. Since then, negative momentum has taken hold of the bitcoin market. The negative trend persisted for the following five days, with the price hitting its lowest point, before regaining positive momentum and moving up towards the $147 level.

Low volatility reigns supreme on the LTC/USD 4-hour chart.

LTC/USD is exhibiting lower volatility than the previous week on the 4-hours candlestick chart. The price has already risen over the $135 level, to $144.76 at the time of writing, thanks to a reverse head and shoulders pattern. The Bollinger band volatility of the coin also indicates a positive decrease in the volatility area.

Source: Trading View, Litecoin 4 hour chart

Green candles have led the market in the last 24 hours, with volume on the lower side. While the 9-day moving average also shows a promising price increase that is likely to continue until another pattern interrupts it.

In the past 24 hours, the price of LTC has moved: The 1-day chart supports the bullish trend.

The LTC/USD 1-day candlestick chart shows the positive momentum the currency is experiencing at the time of writing. The data shows that the volatility of LTC/USD was very high in the months of May and June. However, LTC/USD is exhibiting extremely little volatility in July.

Litecoin price analysis: LTC likely to hit $147 again1 day study of the Litecoin price chart: Source Trading View

Since the beginning of July, volatility has decreased, and the negative momentum has been driven away by the bullish momentum in an attempt to keep the market under control. As shown in Litecoin price analysis, the negative trend was totally shelved after mid-July. In the last hour, the negative momentum has resurfaced, but the bullish momentum has also resurfaced, driving the price back into the positive momentum.

The negative momentum is gaining control of the market because to low trading volume, while the bullish momentum is keeping the coin afloat thanks to low volatility and moving averages.

Litecoin price analysis: LTC likely to hit $147 againTechnical indicators for the price of Litecoin, courtesy of Trading View.

Ten of the 26 technical indicators accessible to us are indicating a buy signal, while the remaining eight are neutral, indicating a strong purchasing position. However, according to Litecoin price research, just 8 indicators out of the total indicate a sell signal. Two of the 11 oscillator indications stand for buying and selling, while the other seven are neutral. Eight of the fifteen moving average indicators are indicating a buy signal, one is indicating neutral, and six are indicating a sell signal.

Conclusion of the Litecoin price analysis: LTC/USD is steadily moving upward.

At the time of writing, Litecoin is experiencing a strong bullish trend, with trading volume being the main drawback. According to Litecoin price research, if trading volume rises, the currency is highly likely to retain present support and break through the resistance level to the $145 and beyond highs. If the negative momentum takes hold of the market, it may fall as low as $130 before retesting the $140 resistance level.

Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.

First of all, you should remember that Litecoin’s price has been struggling to break $110 for almost a year now, and haven’t been able to sustain above that level for long. So, what’s the deal? The answer to this lies in the cryptocurrency’s trading volumes. As we can see on the above graph, Litecoin has been seeing a steady decline in its daily trading volumes over the last few days.. Read more about will litecoin reach $10,000 and let us know what you think.

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