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- 1 The LTC crypto started a downside correction after it broke below the trendline support.
- 2 Litecoin price was $65.09 with an Intraday loss of 4.09% at press time.
Litecoin Price tumbled nearly 4% in Intraday today and is likely to dig lower. The price almost wiped off Monday’s gains and was hovering at $65.09 at the time of writing.
Moreover, the short term trend turned bearish after the bulls failed to defend a positive trend line support last week. The price tested the trendline multiple times and bounced back with bullish momentum.
However, the bulls could not defend more and the LTC crypto broke below once the bears established their presence near the 200-Day EMA. Litecoin provides faster and cheaper transactions as compared to Bitcoin. Its functions are similar to bitcoin but claims to be a better alternative to bitcoin.
Launched in 2011, it soon became popular and was accepted widely. It uses a different hashing algorithm and has a higher supply limit than Bitcoin.
The technical analysis of Litecoin highlights weakness over the daily chart. The price has fallen below the 200-Day EMA suggesting a bearish outlook in the short term.
Moreover, the price performance shows that LTC has fallen below its six month low. The price of Litecoin stands at a weekly loss of 12.7% and has dropped by 14.51% in a span of three months.
Currently, the price hovers near the recent support. The breakdown could trigger another fall and the price may drop more. On the contrary, if the price finds support and bounces back higher, it can initiate a short term positive bias in the crypto.
Litecoin Price Prediction January 2024
The positive view of analysts is an upside potential of over 21.92%, which could take the Litecoin crypto price above the $79.27 mark. While the bearish view of analysts hopes the price drops to the $55.88 level.
Litecoin Price Prediction 2024
The optimistic view of analysts expects a price hike of over 59.6% by the end of the year, which may take the price to a high of $104.1. Furthermore, the bearish view of analysts suggests the LTC/USD price could rise to a high of $82.17.
Litecoin Price Prediction 2025
Over the next two years, the optimistic view of analysts expects that the LTC price may reach a high of $142.86. The minimum forecasted price by the end of 2025 is $111.42.
Litecoin Price Prediction 2026
The Litecoin cryptocurrency price may reach a high of $171.71 if an optimistic trend prevails in the crypto market. On the flip side, the pessimistic view of the analysts expects the price to reach $138.22 by 2026.
Litecoin Crypto Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts for the Litecoin token estimates a price target of $219.14. The minimum price target that LTC may achieve by 2027 is $184.8.
Litecoin Crypto Price Prediction 2028
The analysts are optimistic about Litecoin cryptocurrency (LTC) for the upcoming years and predict that the price could go up to $262.2 in the next four years. However, the pessimistic analysts expect the price to reach a high of $213.13.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
