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As the market is still shaking off the post-Christmas sell-off, the altcoin markets have started to firm up a bit overnight. Litecoin in particular has seen some impressive gains, reaching a new all time high of $276 in Asian trading.
Litecoin price prediction: Litecoin peaks below $280 overnight, set to continue higher today? Litecoin price prediction: Litecoin peaks below $280 overnight, set to continue higher today? In the latest cryptocurrency price trend, Litecoin price is still heading north, having broken the $300 mark yesterday after rising over 15% within the past 24 hours.
Summary of the situation
- The LTC peaks below $280.
- The next local target is $290.
- The next disc is $260.
Today’s price outlook for Litecoin is bullish, as the market has pulled back from some of last night’s gains and continues to find support around the $265 price point. Therefore, we expect LTC/USD to move towards the next resistance at $290 early next week.
Heatmap for crypto-currencies. Source: Coin360
The cryptocurrency market has moved with mixed results over the past 24 hours. Bitcoin is down 1% after losing some of last night’s gains. Meanwhile, Ethereum rose 2.6% and continued its path towards $3,000. Top performers were VeChain and Huobi Token, up 7%.
The LTC/USD opened at $277 today after closing below $280 yesterday. This morning there was a slight pullback to $265 as the market continues to resist further declines. Therefore, we expect Litecoin to hit its next target of $290 in the next 24 hours.
Litecoin price movement in the last 24 hours
LTC/USD traded in a moderate range of $265 to $278, with 24-hour trading volume of $3.5 billion, down 7.73%. The total market value is $18 billion, putting the cryptocurrency in 11th place overall.
LTC/USD 4-hour chart– LTC tries to retest previous resistance as support
On the 4-hour chart, we can see that the LTC/USD has retested the $265 level in recent hours. If there are no further declines today, we expect LTC to reach $290 early next week.
4 hour chart LTC/USD. Source: TradingView
Overall price action in the market continues its path to a major high above the $290 level. After losing more than 30% in the second half of April, Litecoin gained support around $220-230 and began to bounce back.
Litecoin has already reached the $260 level midweek, where a multi-day consolidation has formed. Given the market’s previous structure, this was a bearish sign and bears expected further declines. The 30th. However, in April LTC continued to rise and set a new local high just below the $280 price level, as mentioned in our previous Litecoin price forecast.
Litecoin’s price action has fallen back to the $265 level in recent hours. Since there has been no further decline, we can assume that the bulls will try to push the market higher in the next 24 hours. The next breakout target is at $290, where Litecoin struck on the 22nd. April was the last major peak.
Once the $290 level is broken, the LTC/USD price action will confirm the medium-term trend change. This should drive Litecoin toward its next big goal of $335 later this month.
Litecoin Price Forecast: Supplement
The Litecoin price outlook is bullish as Litecoin will continue to rise with multi-day bullish momentum after retesting previous highs as support. As a result, Litecoin is expected to reach its next price target of $290 early next week.
In anticipation of a further rise in the price of Litecoin, check out our guide on Litecoin mining. For more information on the leader in the Bitcoin market, read our articles on Bitcoin wallets and ETFs.
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Frequently Asked Questions
Will litecoin reach $10000?
It’s been an incredible year for cryptocurrencies, and litecoin has done its part to play a major role in this movement. One of many so-called “altcoins,” litecoin introduced some novel features to bitcoin, like Segregated Witness and the Lightning Network. (The former aims to speed up transactions by decreasing the amount of data that gets recorded on the blockchain, while the later aims to speed up the time it takes for those transactions to be confirmed.) After bitcoin’s extraordinary popularity and growth in value (which has seen its value increase by more than 1000% in the last year), it’s no surprise that other cryptocurrencies have started to explode in value, too. One of the most popular alternative currencies at the moment is litecoin, which hopes to take on bitcoin’s mantle as the world’s most prominent cryptocurrency. However, litecoin has a long way to go before it can even get near bitcoin’s value right now: bitcoin has a market cap of more than $18 billion (as of January 2017), while litecoin’s market cap is a much more modest $400 million. Can litecoin
What will litecoin be worth in 2020?
The value of litecoin is difficult to predict as the cryptocurrency is not widely used today. While some websites accept litecoin payments, it is not possible to pay with litecoin in physical stores. As more people start using litecoin and it becomes more widely accepted, more people will start buying litecoin as a way to save money. Since it was released in 2011, litecoin has gathered a massive community of developers and enthusiasts around the world. It is seen as a direct competitor to bitcoin due to the fact that it has many of the same features, but it is designed to process transactions faster. Litecoin was largely unknown until it became popular on the dark web, where it was used to purchase illegal substances and services. (In fact, the original creator “Satoshi Nakamoto” was rumoured to be a pseudonym for one of the dark web’s most prominent sellers.)
What will litecoin be worth in 2025?
LTC/USD is consistently making new highs with strong bullish moves. The prices usually rise every 5k blocks. LTC price has grown by more than 10000% since the past 4 years. litecoin price prediction today shows the potential of the cryptocurrency by the end of year 2025. The price of Litecoin (LTC) is predicted to reach $150.00 in five years. The five-year forecast for Litecoin is around $150.00. The price is expected to grow by more than $15.00 USD in next five years. One of the most pressing questions that’s been asked since the launch of the digital currency is what will litecoin be worth in 2025? The price of this digital currency has been the talk of the town ever since it was released. While most of us are not talking about how much it will be worth in 2025, many are already talking about what factors could influence its price. In an attempt to answer this question, we have dedicated this piece to talking about the factors that could be liable for litecoin price growth in 2025.
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