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- 1 Litecoin Price Prediction suggests a significant increase in value is possible in the coming months.
- 2 LTC price struggles to defend the 200-day EMA support.
- 3 Litecoin price faced rejection from $114.00 and eroded the previous gains.
Litecoin price prediction is bullish till it sustains above $70.00 support and suggests a rise in the long run. However, for the short-term LTC price seems to be in correction mode and buyers are trying their best to rebound.
Litecoin crypto struggles to hold the price above the 200-day EMA to keep the trend in an upward direction. But both the EMAs are sloping sideways indicating that the prices lack direction and might consolidate in a range.
On June 30, 2023, Litecoin price surged 28% in a single day with a high buying volume. It broke out of the $100.00 hurdle level and created hope for more upward momentum.
However, prices faced rejection from $115.00 and witnessed profit booking from higher levels. Slow and steady prices drop below $100.00 invites further decline.
Litecoin price is trading at $89.39 with an intraday decline of -0.07%. The 24-hour volume to market cap is 5.55%. The pair of LTC/BTC is trading at 0.003064 with an intraday rise of 0.10%. The price chart of LTC/BTC looks quite similar to the USDT pair.
Will Litecoin Price decline further or take a U-turn?
Litecoin price prediction will turn highly bullish if buyers are able to regain the $100.00 mark. LTC price seems to be consolidating in the wide range between $70.00 to $100.00.
Buyers tried multiple times to break the higher range but due to the strong presence of sellers, prices faced rejection. Presently, LTC crypto is near to crucial support. Therefore, if it declines further then more downside will open.
Till the LTC price sustains above $80.00 the possibility of taking a U-turn will remain high. However, if the price drops below $80.00 then bears might try to pull it down to the lower range.
LTC Price Analysis on the weekly time frame
LTC price formed a Doji candle in the previous week and sellers are trying to break down the low. The crypto leader BTC price also dropped below $30K which negatively impacted the overall market sentiment.
If the BTC price recovers then LTC crypto might also show some positive momentum. The MACD curve generates a negative crossover and slides below the zero line indicating mild bearishness. The RSI at 43 slopes down denotes bulls are losing their grip.
Conclusion
Litecoin price prediction suggests a rise till prices hold the $70.00 support. Presently, LTC price is in short-term correction mode but the downfall is expected to take a halt near $80.00.
Technical levels
- Resistance levels: $100.00 and $115.00
- Support levels: $80.00 and $70.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
