Litecoin price prediction – LTC is up 20% this week after MoneyGram support

Litecoin has been on a notable bullish rally over the past week after jumping by around 20%. In the last 24 hours, Litecoin has gained 7.3%, trading at $66.25 at the time of writing.

LTC price analysis

Litecoin is bullish today, just like most of the broader market. In the last 24 hours, the broader crypto market has gained by 1.8% to $1.074 trillion. LTC seems to be benefiting from this rally, with the coin outperforming both Bitcoin and Ether.

Litecoin’s trading volumes in the last 24 hours have dropped nearly half to $1.63 billion. However, these are still healthy volumes, and the current bull run could attract speculative traders into investing in the token, which will trigger notable gains. In the last 24 hours, LTC has traded between $60 and $66, indicating a spike in volatility.

The Relative Strength Index for Litecoin indicates that the token has seen a spike in buying pressure. However, the RSI has yet to reach the overbought zone, which lowers the chances of a price reversal.

If LTC can continue with this rally, the price will likely break the next barrier of $72, after which a rally to $100 could be formed. LTC, like most of the cryptocurrency market, has been affected by this year’s bear market and plunged 68% year-to-date.

Positive developments on Litecoin

One of the factors driving Litecoin’s gains is the announcement by MoneyGram that it would support Litecoin in its mobile app. MoneyGram will allow users to buy, sell and hold Litecoin on the platform.

Litecoin has the potential to rally to a new all-time high in 2023 as its halving event is scheduled to happen on July 2023. Litecoin has undergone two halving events so far, where the miner block rewards are slashed by half. These halving events coincide with volatile price movements in Litecoin, where major gains are usually made.

Three altcoins that could rally 10x

If you want to diversify your crypto investment portfolio, you might consider investing in three of the best presales of 202.

One of these presales is for Dash 2 Trade. Dash 2 Trade is a platform that allows crypto traders to make informed decisions by giving them trading signals, social sentiment data, and social trading tools. The D2T presale has already raised more than $4.69 million.

The second presale to consider investing in today is IMPT. IMPT is the token powering IMPT.io, a platform that focuses on lowering carbon emissions by individuals and companies. IMPT could be the next token to explode, and the presale has raised over $12 million.

The third best-performing presale of 2022 is for Calvaria. Calvaria is a blockchain gaming project that has the potential to become one of the best play-to-earn games. The RIA presale is already exploding and has raised more than 1.35 million USDT.

Related

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