Litecoin Price Prediction: Analysts Insights Over LTC Rally 2023!

Litecoin price prediction showcases the token’s recovery rate and shares some thoughts of LTC rally in 2023 as analysts speculated.
LTC crypto price is still below 50-EMA while striving to remain at 20, 100 and 200-days Daily Moving Average.
Litecoin price has gained 17.87% year to date, confirming the thoughts of analysts for LTC to recover maximum during 2023.

Litecoin price prediction hints towards the maximum recovery of LTC crypto during 2023 and surge maximum, says analysts. However, Litecoin price is currently trying to sustain at the current level to remain inside the recovery momentum. LTC crypto price must surge above $90 primary resistance level to initiate its recovery rally for $150 by the end of 2023.

Analysts also suggested the Litecoin crypto’s maximum recovery and LTC might reach $150 by the end of 2023 analysts added. Meanwhile, Litecoin price has started its bullish rally from the $67.88 support zone. LTC crypto price is trying to remain inside the recovery phase but sellers are approaching to short LTC crypto for a pull back.

However, Litecoin needs to oppose the short-sellers’ pressure in order to remain inside the recovery momentum. Meanwhile, trading volume needs to shoot up above average for LTC to continue its recovery over the charts.

Litecoin price was at $83.35 with a loss of 1.15% in its market capitalization in the past 24-hours. Trading volume has decreased by 14.81% during the intraday trading session. This demonstrates that sellers are trying to short the market for a pull back. Volume to market cap ratio was at 0.1335.

Expandable Recovery of Litecoin Price in the Past:

Litecoin price prediction showcases the recovery phase of LTC crypto. Litecoin price entered 2023 with a bang as it has recovered around 17.87% year to date. Proving some analysts’ speculations regarding LTC’s maximum recovery during 2023 true.

Moreover, the quarterly report of Litecoin price is also positive with a 9.68% growth rate. Litecoin price has gained 46.66% in the past six months. This also signifies the expandable recovery of LTC cryptocurrency over the charts.

Litecoin price has been trying to surge maximum and might showcase a bigger move as soon as it recovers above $100, added analysts as long term view for LTC.

Will LTC Reach $150 By End of 2023?

Litecoin price prediction also suggests the long term view of LTC crypto price in 2023. According to the analysts, Litecoin price might reach $150 by the end of 2023. As evidence analysts also added that if Litecoin price follows the recovery path and like LTC remains above $100 by mid 2023.

Then LTC investors might witness LTC crypto’s move above $130 if it sustains above $115 during 2023. By December 2023 or during the start of 2024 Litecoin price might reach $150 recovery level if everything works according to the plan.

However, analysts also stated that high volatility factors of the cryptocurrency market might affect the price action of Litecoin price. Investors in Litecoin crypto need to wait until LTC remains inside the recovery phase to break out of the $90 primary resistance level.

Technical indicators are pretty divergent over Litecoin price. Relative strength index showcases the downtrend momentum of LTC crypto price. RSI was at 45 and is moving towards the oversold territory.

On the contrary, MACD exhibits the upside trend of Litecoin price. The MACD line is moving towards the signal line for a positive crossover. Investors in Litecoin cryptocurrency need to wait until LTC coin price breaks out of the primary resistance level of $90.

Summary

Litecoin price prediction hints towards the maximum recovery of LTC crypto during 2023 and surge maximum, says analysts. Analysts also suggested the Litecoin crypto’s maximum recovery and LTC might reach $150 by the end of 2023 analysts added.

Litecoin price entered 2023 with a bang as it has recovered around 17.87% year to date. Litecoin price prediction also suggests the long term view of LTC crypto price in 2023. According to the analysts, Litecoin price might reach $150 by the end of 2023. By December 2023 or during the start of 2024 Litecoin price might reach $150 recovery level if everything works according to the plan. Technical indicators are pretty divergent over Litecoin price.

Technical Levels

Resistance Level: $90.88 and $100.00

Support Level: $75.00 and $67.90

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.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing