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- 1 The Litecoin crypto price is drifting lower on Thursday and seeks to get support from the buyers.
- 2 Litecoin crypto price was at $68.8 with an intraday drop of 1.06%.
Litecoin price retreated below $70 after getting enough supply near the 200-Day EMA on a daily chart. The LTC crypto price made a retest of the trendline support and slumped indicating the continuation of the downtrend.
Earlier, the Litecoin cryptocurrency broke below a trendline support on January 2nd, 2024, indicating initial signs of weakness. The price dropped lower, got the buyers back near the $60 level, and jumped again.
Furthermore, the recovery lacked momentum due to low volume inflow. The LTC crypto lost momentum near the trendline after which bears dominated again and the price resumed to fall.
At the time of writing, Litecoin price was hovering at $68.8 after losing 1.06% in intraday. It has a total market capitalization of $5.09 Billion and ranks 19th among all the cryptocurrencies. It had a 24 hour trading volume of 287.89 Million with an Intraday drop of 12.84%.
The price performance shows that Litecoin price was down 2.13% last week. Also, It shed nearly 3% in the past month. Moreover, the price performance of Litecoin is positive in the last three months at 11.10%.
The trend outlook demonstrates that Litecoin price entered the bullish zone in the last week of October and maintained it until December end. The price took multiple support from a trendline support to maintain bullishness.
However, the breakdown below the trendline support again dragged the price in the bearish zone.
Currently, Litecoin restested the trendline and is still in a fall. The price has broken below the 20, 50 and the 200-Day EMAs on the daily chart, suggesting a drop is likely.
As per the indicator analysis, Litecoin is exhibiting bearish performance as MACD has shown bearish character by drawing out a bearish cross in its domain and the RSI is not close to the 30 level yet, meaning that the crypto is not facing significant buying pressure and can continue to fall.
Litecoin Price Prediction January 2024
The positive view of analysts is an upside potential of over 14.12%, which could take the Litecoin crypto price above the $79.14 mark. While the bearish view of analysts hopes the price drops to the $61.2 level.
Litecoin Price Prediction 2024
The price prediction for 2024 shows that Litecoin crypto may advance to a high of $101.22 by the end of year 2024. Whereas, the less optimistic analysts estimate a price target of $85.7 by the end of year 2024.
Litecoin Price Prediction 2025
As per the most positive view of our analysts, the price may attain $122.75 suggesting an upside potential of 78.08%. The most pessimistic view assumes the price to reach $98.36 by the end of the financial year 2025.
Litecoin Price Prediction 2026
The analysts have a wide range of price targets for January 2024. The most optimistic view of analysts assumes the price could advance to a high of $154.75 suggesting a potential gain of over 126%. The lower price target which the crypto could attain as per the analysts is $121.03.
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.
