Litecoin price prediction suggests consolidation is over and LTC price might begin the journey to reach $100.00. In the next bull run, LTC price might perform well and reward its long-term investors.
Litecoin price trying to sustain above the 50-day EMA to keep the short-term trend in an upward direction.
Recently, a few days ago, sellers tried to pull the price down below the 50-day EMA. However, the buyers showed a sharp bounce and succeeded in regaining the EMA. It shows the strength and presence of bulls at the lower levels.
For the last three months, Litecoin crypto price spent time in narrow range consolidation. Recently, at the beginning of November, buyers broke out of the higher range and hit a swing high at $76.79.
However, the price lost momentum and witnessed profit booking. In the recent upmove, the trading volume is low which denotes big players are still out and waiting for confirmation of reversal.
Currently, LTC price is trading at $69.84 with an intraday rise of 0.47%. In the last 24 hours, the trading volume is down by 13.01% and the volume to market cap is 5.35%.
Will Litecoin Price Show a Rally in December?
Litecoin price prediction suggests that bulls will lead the rally and the $100 mark is achievable in 2024. If the buyers succeed in pushing the LTC price above the 200-day EMA, then the possibility of reaching $100 will increase.
At press time, bulls look more aggressive as compared to bears. So, LTC crypto may perform well in December. Till the price holds the $60.00 support, the bulls will remain active, and the minor downfall will be absorbed easily.
The analysis suggests that Litecoin price is at attractive levels so investors may look to buy for generated nominal returns.
LTC Price Analysis with BTC Pair
LTC price looks bearish with a BTC pair and trading at 0.001856. It seems this pair is in a strong downtrend and sellers are building shorts on every rise. LTC/BTC crypto price continue to decline by forming lower low swings.
However, the LTC/USDT pair is mildly bullish and preparing for a breakout. Therefore, the big divergence between both pairs is visible.
So, the long-term investors may look to play longs with the USDT pair and stay with the bullish trend.
Conclusion
Litecoin price prediction suggests a rise in the short-term as well as in the long-term. If the LTC price succeeds in climbing above both the EMAs, then it may show a sharp rise toward $85.00.
The analysis suggests that the LTC crypto price is bullish and seems to be preparing for a big move.
Technical Levels
- Resistance levels: $85.18 and $96.37
- Support levels: $65.00 and $57.63
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
Source: https://www.thecoinrepublic.com/2023/11/24/litecoin-price-prediction-ltc-price-prepares-for-big-up-move/