- Litecoin’s all-time high of $ 225 seems to be an accessible option for cryptocurrency right now. The cryptocurrency market has been booming for the past few days, and analysts expect major cryptocurrencies to break from all-time highs following Bitcoin. Litecoin peaked today at $ 174, while the 24-hour low for cryptocurrency was $ 139. So will Litecoin rise?
Litecoin’s all-time high of $ 225 seems to be an accessible option for cryptocurrency right now. The cryptocurrency market has been booming for the past few days, and analysts expect major cryptocurrencies to break from all-time highs following Bitcoin. Litecoin peaked today at $ 174, while the 24-hour low for cryptocurrency was $ 139. So will Litecoin rise?
Litecoin price chart
Litecoin has suffered from some drastic moves throughout the day, but it seems to have stabilized somewhat. The cryptocurrency stands at $ 155.25 at the time of writing. Of the twenty-eight technical indicators, eighteen propose to buy one, seven to be neutral, and only three to sell. Apart from these indicators, most of the oscillators are neutral, while most of the moving averages indicate a buy signal.
Will Litecoin rise?
Analyst Quant Guy drew attention to a very interesting formation in Litecoin price prediction. The analyst described a “dragon-head pattern.” Cryptocurrency is currently in its final stages of formation and could soon see an explosion. According to the analyst, Litecoin is a safer option for traders as it does not rise as quickly as Bitcoin and Ethereum.
The price action is quite modest, but does not indicate bearish pressure. The analyst expects the cryptocurrency to continue to rise gradually. However, some volatility can still be expected. LTC’s current price level is in the Fibonacci extension. Analyst expects Litecoin’s next target to be $ 173.
Analyst WallStreet Jhonny Dipzz spotted an inverted head and shoulders formation in the Litecoin price prediction. The analyst expects the coin to break up from the formation and move higher. The cryptocurrency is on the rise for the time being, and it looks like it will stay that way for a while, at least until the market is bullish.
Analyst M. Fariello is very optimistic about Litecoin’s future in Litecoin price prediction. The analyst expects Bitcoin to rise to at least $ 38,000, and when that happens, he expects Litecoin to help soar.
Analysts are positive
Fariello expects strong support at $ 139, and if support continues, then the bullish for the money could be confirmed. So far, the support level seems to be getting stronger. Litecoin could surpass the $ 245 level in the medium term. However, if the coin fails to lift the $ 139 support level, it could even drop to $ 100.
Most analysts seem to agree on the future of Litecoin. The future looks bright and Litecoin is expected to continue its upward trajectory towards an all-time high. In Litecoin price predictions, analysts had expected at least a trajectory rising to the $ 160 level; however, corrections may come after the increase.