Litecoin is about to hit a milestone: on May 5, it will have become the first major altcoin to hit $100 in price. And yet, that’s not the whole story. As of this minute, the price is hovering at $186—a far cry from the highs it reached back in December. That’s because the collective community of litecoin buyers has become scattered and disjointed: too many people are holding (and selling) the currency based on its past performance and not enough are buying it based on its future potential.
Despite the scare at the weekend, Litecoin prices are still holding well at $187.50, a near-term resistance level that has held for months. We are seeing a similar trend in other major currencies and coins such as Dash and Ripple, which are all seeing a bit of premium at $100-150 above their $100-150 support levels. With Bitcoin struggling to break $7000, altcoins are taking up the slack and providing some stability to the volatile crypto markets.
Since Bitcoin’s meteoric rise late last year, Litecoin has been struggling to keep up with the top coin. But a handful of recent events have caused Litecoin to show signs of life. First, Litecoin saw a correction in its price. While its price has never dropped below $120, it recently fell to a low of $150, down from a high of $192 in December. Second, Litecoin’s market cap finally surpassed that of Bitcoin, which remains the world’s largest digital currency by market cap. With a market cap of $14.7 billion and a price of $151, Litecoin is now worth slightly more than 50% of Bitcoin. And third, Litecoin has seen some recent activity.. Read more about litecoin cash price prediction 2025 and let us know what you think.Summary of the situation
- Litecoin (LTC) reversed Monday’s uptrend with a drop of 3.70%.
- Traders on hand must jump on the bandwagon
- The continuation of the downtrend could push the price of LTC below the initial support at $175.
Litecoin Price Forecast: Price Overview
Litecoin rebounded partially from a 10% rise on Monday, but fell 3.70% in early trading. Prior to the price drop, Litecoin’s daily chart was completely green, with three white soldiers bivouacking at $186. This bullish behavior indicates that most moving averages indicate an upward trend. The currency began its uptrend at the 38.2% retracement of its 52-week low ($182) and broke above the $183 reversal level. Since then, it has followed a gradual upward channel to $186. Nevertheless, this morning’s head and shoulders pattern, which resulted in the currency correcting below the $186 upper resistance level, gave range traders an advantage. Who saw this as a good time to buy below resistance, probably around $180 support, and sell between the upper limits of current support. LTC is already down 48% on last week’s volume and about 16.05% on Monday’s volume. Buyer pressure has already failed to consolidate above key resistance at $197. Moreover, sellers could pull the price close to the initial support at $173, before a reversal to the intraday low of $175. If buyers bring in more numbers, the cryptocurrency’s rally on the daily chart is likely to continue and surpass today’s intraday high of $186 and reach the $190 level. The possibility of breaking through $200 resistance could lead to further bounces. However, overcoming this resistance will require support from the broader market. If this happens, Litecoin could make a more decisive breakout above the first key resistance and test the second key resistance at $210. Litecoin ranks 14th in terms of market capitalization, with a total valuation of $12.3 billion.
Litecoin price movement in the last 24 hours
Litecoin has serious initial support at $175 on the 24-hour chart and is trading between an intraday low of $178 and an intraday high of $186. The bulls are hoping to break through the $190 level and make a new high for the day. At the moment, however, buyers are not strong enough to go above this level, and sellers seem to be pulling the Litecoin price below the crucial $184 level. If the downtrend continues, the bears could attack the 62% FIB retracement level at $174 and the first major support at $175. LTC started the day higher, but the question is different; Will buyers be able to support the positive market signal and continue the upward trend? Source: Tradeview
Litecoin4 hour price chart
Litecoin (LTC) is down 0.33% on the hourly chart. The decline is a pullback from the momentum of the past hour, when the price reached $186.48. In addition, a clear trend line is forming on the 100 and 200 day moving averages, indicating that a bullish channel may be forming. At the time of writing, Litecoin is at $1854. source: Tradeview
Conclusion: Litecoin pulls out of gains on Monday
Most crypto-currencies posted double-digit gains to start the week, including Cardano (ADA), Ethereum (ADA), Polygon (MATIC) and Litecoin (LTC). However, LTC corrected downward, partially offsetting yesterday’s gain of 3.70%. Range traders have a great opportunity to profit from the daily and weekly performance of the currency. Long-term players can also invest in Litecoin and bet on its stable performance, which is why it regularly ranks in the top 15 cryptocurrencies in terms of market capitalization. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.After the massive Litecoin rally in December, many are wondering if the price of the virtual currency will continue to rise in January. At the time of writing, the price per Litecoin is just under $185, a 9.5 percent increase from the previous month’s level.. Read more about litecoin predictions 2021 and let us know what you think.
Frequently Asked Questions
What will litecoin be worth in 2020?
Litecoin is a digital currency, created in 2011 that has grown in popularity in the past few years. Recently, it has become a hot commodity, with over $1 billion in daily trading volume and as high as $186 per coin. However, if it has become the new gold standard, then where are all the investors? LTC is one of the world’s top 10 cryptocurrencies by market value and it is very popular in Asia. However, lately it has been decreasing in price. In April, it reached an all-time high of $370.46 and in June its value fell to $212.22. At the moment, it is worth $185.12.
What will litecoin be worth in 2030?
Bitcoin started out as the cryptocurrency for the dark web, but it has since moved to become the world’s first high-profile cryptocurrency. The market cap for bitcoin has climbed to over $100 billion, but litecoin has been around much longer, and it’s also managed to build a thriving community of buyers and sellers. Will litecoin still be around in 2030? There is a lot of hype and excitement about cryptocurrencies, and one of the most significant new developments in the industry is Litecoin . Since its launch in 2011, the world’s most popular cryptocurrency has risen exponentially, and has more than tripled in value since the beginning of 2017. So what can we expect from Litecoin going forward?
Will litecoin reach 1000?
When bitcoin took the world by storm in 2009, it seemed like it was going to be the winner of the cryptocurrency revolution. But as time went on, the popularity of other cryptocurrencies and altcoins started to climb. Today, alts like bitcoin cash, dash, ethereum, and litecoin are all making waves. As we are all aware, the value of litecoin has been on a steady fall this past week. The price action is not a surprise, as this is similar to what happened last summer, when the market was flooded with new btc buyers. But the losses are significant, and while there is nothing to suggest that it will be unable to recover, it is likely that the current sell-off will continue for some time.
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