Litecoin is Predicted to Drop to $80.32 By May 22, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Litecoin is up 3.32% today against the US Dollar
• LTC/BTC increased by 4.27% today
• LTC/ETH increased by 3.96% today
• Litecoin is currently trading 15.23% above our prediction on May 22, 2023
• Litecoin dropped -6.84% in the last month and is up 31.10% since 1 year ago

LTC price is expected to drop by -13.22% in the next 5 days according to our Litecoin price prediction

Litecoin price today is trading at $ 92.56 after gaining 3.32% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 4.10% in the same time period. LTC performed well against BTC today and recorded a 4.27% gain against the world’s largest cryptocurrency.

According to our Litecoin price prediction, LTC is expected to reach a price of $ 80.32 by May 22, 2023. This would represent a -13.22% price decrease for LTC in the next 5 days.

LTC Price Prediction Chart

Buy/Sell Litecoin

What has been going on with Litecoin in the last 30 days

Litecoin has been displaying a negative trend recently, as the coin lost -6.84% in the last 30-days. The medium-term trend for Litecoin has been bearish, with LTC dropping by -8.55% in the last 3 months. The long-term picture for Litecoin has been positive, as LTC is currently displaying a 31.10% 1-year price change. On this day last year, LTC was trading at $ 70.60.

Litecoin reached its all-time high price on May 10, 2021, when the price of LTC peaked at $ 410.76. The current LTC cycle high is $ 104.15, while the cycle low is at $ 40.47. LTC has been displaying low volatility recently – the 1-month volatility of the coin is at 5.95. Litecoin recorded 18 green days in the last 30 days.

Litecoin technical analysis for today – May 17, 2023

The sentiment in the Litecoin markets is currently Bullish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 87.60, $ 85.24 and $ 83.85, while $ 91.35, $ 92.73 and $ 95.10 are the key resistance levels.

Bullish sentiment for Litecoin

24 indicators are currently signaling a bullish prediction for Litecoin, while 6 indicators are showing a bearish forecast. With 80% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Litecoin.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 50 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Litecoin moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Litecoin is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Litecoin is at 57.63, suggesting that LTC is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Litecoin over the last 50 days. Currently, Litecoin is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the LTC closing price for the last 200 days. LTC is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Litecoin prediction

After considering the above factors, we can conclude that the current forecast for Litecoin price prediction is Bullish. LTC would have to decrease by -13.22% to hit our $ 80.32 target within the next five days. Moving forward, it will be important to monitor the LTC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Litecoin price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.