Litecoin Price Prediction
QUICK NAVIGATION :
Are you thinking to invest in Litecoin? Let’s take a sneak peek of Litecoin (LTC) price prediction. Discover where the Litecoin cryptocurrency Price is heading this month.
Litecoin Price Today
Currently, Litecoin is on the 5th position with a market capitalization of
$ 3,590.84 M and trading at $ 58.99 resistance levels.
Let’s walk through (LTC) Litecoin Price Prediction and Forecast!!
At present, it seems some interesting opportunities are heading towards litecoin fans. For Litecoin investors, the current momentum is very promising first and foremost. The Litecoin price reached $56.78 again, the token is gaining popularity among investors, and it’s also increasing in price.
George Tung, a cryptocurrency analyst, claims that Litecoin will reach $1,500 towards the end of 2019. Brian Kelly, the head of BK Capital Management (LLC), is sure we might witness an LTC price of $500 or even $600 by the end of this year. Though conservative, this approach seems to be close to reality.
Litecoin is a peer-to-peer cryptocurrency introduced by Charlie Lee. It was built based on the Bitcoin protocol but varies in terms of the hashing algorithm . The coin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins.
At present, The Litecoin price is outperforming when compared to most of other altcoins across the cryptocurrency market . LTC/USD is currently enjoying a three consecutive session run of gains, with price up $49.11 at the time of writing.
Litecoin has built its recent relative strength, recovering the short-term $48 resistance level. Although, the coin is still blow the rising trendline which broke on Sunday, it is close to confirming a short-term swing low which would point to another test of last week’s swing high near $52.
Recently, Litecoin announced a partnership with Glory, a popular kickboxing league. However, partnering with production organization for a concert hosting some of the biggest names in K-Pop. All of which posses a huge following, This in turn brings much exposure to Litecoin.
Litecoin is ready to test a key zone, this can be analysed by tracking within $48- $50 price range. Previously, LTC/USD last traded up at these peaks in November 2018. Aimed at formulating a long-term plan, odds continue to support the test of bear market lows, but the short-term uptrend could still continue, with the next major target zone being ahead near $56.
It quickly becomes evident that the $49 level is acting as support. Moreover, it appears this situation may remain constant for some time. Assuming traders continue to stack orders, things could get very interesting.
On social media, there is some positivity buzzing as well. Few experts are confident that Litecoin is getting ready to step in a mega bullish phase. Although, the present chart seems to indicate there are some very interesting similarities with the November 2017 trend.
Recent Updates :
Litecoin Improvements May Enhance Its Value Double In 2019
- Litecoin (LTC) seems to be advancing and becoming a better digital currency. Since it was experiencing lowest point for more than a year, at the end of 2018, Litecoin doubled its value. In December 2018, Litecoin was traded around $23, now it is close to touch $60.
Litecoin’s Founder, Charlie Lee, stated that he wants to make Litecoin more relevant.
He said that Fungibility is the only property of sound money that is missing from Bitcoin and also from Litecoin. Thus, as the scaling debate is already something that is being developed, privacy and fungibility are topics that must receive answers.
- The use of LTC in Venezuela is one of the reasons behind the growth, but it isn’t the only reason. The coin has been making a huge progress on the developmental front. The team behind it has sealed many high-profile partnerships and made privacy updates.
All things considered, the majority of crypto markets seem to be in a good place right now. Litecoin is rising up a lot quicker than all of its market cap competitors. An exert to $49 seems likely, reaching $100 will cause a very different set of challenges.
What do you think of our Litecoin (LTC) price prediction for 2019? Let us know your own predictions in the comments below!