Litecoin Price Prediction 2023: LTC To Escape This Consolidation?

• Litecoin price prediction suggests the token’s consolidation phase over the daily time frame chart.
• LTC crypto price is currently above 20, 50, 100 and 200-days Daily Moving Average.
• The pair of LTC/BTC was at 0.003114 BTC with an intraday gain of 1.11%.

According to analysts, the LTC coin will have its greatest comeback and rise in 2023. However, the price of Litecoin is currently trying to hold at the current level in order to keep the momentum of the recovery. By the end of 2023, the LTC cryptocurrency price must break past the $90 primary resistance level in order to begin its comeback surge towards $150. 

Analysts also anticipated that the greatest recovery for the Litecoin cryptocurrency would be $150 by the end of 2023. Litecoin price has started to increase bullishly from the $67.88 support level in the interim. The price of LTC is seeking to remain in the recovery stage, while sellers are moving forward to short LTC in expectation of a pullback.

However, Litecoin must fend off pressure from short-sellers in order to keep the momentum of the rally. Trading volume needs to increase above normal for LTC to continue its return on the charts.

Litecoin price was at $94.22 with a gain of 2.25% in its market capitalization in the past 24-hours. However, during the intraday trading period, trading volume has declined by 17%. This demonstrates that sellers are accumulating to short the Litecoin price during the day’s trading session. Volume to market cap ratio was at 0.07313.

Litecoin Price: Technical Indications!

The anticipated price of Litecoin reveals the cryptocurrency’s state of recovery. In 2023, Litecoin prices skyrocketed, and they have since recovered by roughly 34.66%. confirming that LTC will experience its greatest recovery in 2023, as predicted by certain analysts.

The quarterly report on the price of Litecoin also reveals a positive increase of 9.67%. In the past six months, Litecoin price has climbed by 83%. This also indicates the potential comeback of the LTC coin on the charts. 

The price of Litecoin has been attempting to increase as high as it can and may show a significant shift once it rises above $100, according to analysts’ long-term estimates for LTC.  

The price of Litecoin is rising, according to technical indicators. The price of LTC cryptocurrency is moving upward, as shown by the relative strength index. The overbought zone is being approached by the RSI, which was at 57.

The upward price trend of Litecoin is visible on MACD. After a positive crossing, the MACD line is higher than the signal line. Investors in LTC Crypto must wait until the price of the cryptocurrency maintains above $90 in order to break out of the $95 level and reach the $100 recovery level.

Summary

According to analysts, the LTC coin will have its greatest comeback and rise in 2023. However, the price of Litecoin is currently trying to hold at the current level in order to keep the momentum of the recovery. However, LTC token must fend off pressure from short-sellers in order to keep the momentum of the rally. The quarterly report on the price of LTC also reveals a positive increase of 9.67%. The price of LTC crypto is rising, according to technical indicators.

Technical Levels

Resistance Level: $95.00 and $100.00

Support Level: $90.00 and $88.00 

Disclaimer-

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.      

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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