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- Litecoin price prediction suggests the struggle of LTC crypto at the current level to adapt the upward momentum.
- LTC crypto price is trying to maintain above 20, 50, 100 and 200-days Daily Moving Average.
- Litecoin price needs to break out from the primary resistance level of $95 in order to surge above $100 level.
Analysts estimate that the highest recovery and boom of the LTC cryptocurrency will occur in 2023. However, in order to maintain the momentum of the rebound, the price of Litecoin is currently attempting to hold at the current level. For the LTC cryptocurrency price to start its rebound rally for $150 by the end of 2023, it must break through the $90 primary resistance level.
The maximum recovery for the Litecoin cryptocurrency was also predicted by analysts, who added that LTC might reach $150 by the end of 2023. In the meantime, the bullish rise in the price of Litecoin has begun from the $67.88 support area. LTC cryptocurrency price is attempting to stay in the recovery phase, while sellers are advancing to short LTC cryptocurrency in anticipation of a pullback.
However, in order to maintain the momentum of the rebound, Litecoin must resist the pressure from short-sellers. For LTC to continue its chart-based comeback, trading volume must go above average.
Litecoin price was at $91.27 with a loss of 1.51% in its market capitalization in the past 24-hours. However, during the intraday trading period, trading volume was at 101.782 K and is slightly below average. This demonstrates that buyers’ accumulation needed to be increased during the day’s trading session.
The projected price of Litecoin demonstrates the cryptocurrency’s recovery stage. The price of litecoin surged into 2023 and has since recovered by about 30.34%. confirming the predictions of certain analysts that LTC will have its maximum comeback in 2023.
Additionally, the quarterly report on the price of Litecoin shows favourable rise of 23.14%. The price of Litecoin has increased 72% during the last six months. This also denotes the LTC cryptocurrency’s scalable recovery on the charts.
According to analysts’ long-term projections for LTC, the price of litecoin has been trying to rise as high as it can and may demonstrate a greater shift once it rises above $100.
Technical indicators show the downtrend of Litecoin price. Relative strength index showcases the downtrend momentum of LTC crypto price. RSI was at 53 and is moving towards the neutrality of a breakdown.
MACD exhibits the downside trend of Litecoin price. The MACD line is moving towards the signal line for a negative crossover. Investors in Litecoin cryptocurrency need to wait until LTC coin price sustains above $90 to break out of the $95 level to reach $100 recovery level.
Technical Levels
Resistance Level: $95.00 and $100.00
Support Level: $90.00 and $88.00
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
