Over the last month, the LTC price has surged nearly 100% in a strong market rally.
The market valuation of Litecoin as against the price-worth of the US Dollar has seemingly set a new pace
The week started with the bullish sentiments,major altcoins showing strong surge including ethereum, EOS, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD outperformed all and cleared the $1K resistance for the first time since 2018. Among all Litecoin ended up ranking 2nd for the day in terms of LTC price change relative to the day prior.
LTC Price Analysis
The altcoin came into today up 8.3% ($10.5) from the open of the day prior, marking the 2nd straight day of an increase. At press time, Litecoin is trading at $159.28 USD with a 24-hour trading volume of $17,940,429,126 USD. LTC is up 13.17% in the last 24 hours. The current CoinMarketCap ranking is #5, with a market cap of $10,550,391,919 USD.
Litecoin surged almost 20% and it cleared the $135 and $150 resistance levels. LTC is now trading above the $160 level and it seems like the price might continue to rise towards the $172 and $ 175 levels. Also, if there is a downside correction, the recent breakout zone at USD 150 might provide support.
LTC/USD bulls gained the advantage of the trade in the next session. Meanwhile, the base instrument may, in a slow-moving manner, push northward the more. Trade levels around $160 and $180 tend to witness less active price action purposely for the market to decide the direction.
According to trader Travis , $180, $220 and $320 ATH are the next major levels and the next major resistance lies at the $140 level.
Will LTC Price Hit $200?
According to active crypto trader with twitter handle @Tradermayne seems to be bullish on Litecoin. He shared the below chart and claims that according to the law of Thermodynamics $LTC to $250 rapidly.
Another crypto enthusiast with twitter handle @tamilbtc predicts that litecoin price is likely to hit $200 within 24hrs.