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Where can Litecoin ( LTC) Move Now?

The coin for Litecoin is known as LTC. It was supposed to be the light version of BTC.

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At the time of writing LTC is being traded at the price of $199. The price of LTC has decreased by almost 1.12% in the past 24 hours. The daily trading volume has also decreased by almost 6.23% in one day. LTC is listed on coinmarketcap at 18th spot according to market capital and has a market dominance of about 0.51%.

LTC has achieved it all-time high around the price of $413.5 in May 2021. It later fell down to the price of $103.5 during the crash and showed reversal from there. As compared to other coins LTC has been one of the slow gainers.

LTC has a total supply of 84M tokens and has a circulating supply of about 68.9M tokens. LTC can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.

Technical Analysis Litecoin – (LTC)

On the monthly time frame, we see that LTC has been forming a cup and handle formation that is probably one of the most bullish charts on the higher time frame. On the weekly, we see that LTC is still trying to get above the last structure to confirm a breakout.

On the daily time frame, we notice that the price is bullish in nature and is now in an uptrend (the market structure got shifted when the price broke above $150.

After the impulsive move towards the upside, the price went parabolic and it was healthy for the market to retrace back. This retracement got aligned with the golden zone of the Fibo’s. From there the price got a bounce. Right now, all the imbalance in the price has been mitigated and there is no valid reason for the price to come back down. Soon the weekly will also turn bullish and all three important time frames would be bullish which would eventually lead LTC to a new all-time high.

Long Term Prediction – Litecoin (LTC)

According to wallet investors, the price of LTC is highly bullish in nature and is a safe investment. According to their predictions, LTC will reach a value of $272.55 in one year. For a five-year plan LTC is expected to reach a value of $612.225.

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