Despite the ongoing market turmoil and top altcoins plunging below their important support levels, the Litecoin price has maintained its value above its important support of $125. This highlights a strong bullish dominance for the altcoin this month.
Considering the present market sentiments, will the LTC coin price maintain its upward trend and record a new monthly high soon? In this article, we at CoinPedia have uncovered the short-term market sentiments and possible Litecoin (LTC) price analysis just for you.
The price of Litecoin has maintained its bullish action by adding 10.72% in 24 hours and 15.95% over the past week. Furthermore, this altcoin has surged 12.23% in the last 30 days and has a Year-to-Date (YTD) return of +32.56%, highlighting a strong bullish influence.
The Simple Moving Average (SMA) constantly supports the Litecoin price chart in the daily time frame. This highlights a strong bullish outlook for the altcoin this week.
Moreover, the RSI indicator has successfully retested its neutral point, resulting in it recording a sharp rise toward the overbought range. On the other hand, the average trendline constant acts as a support, suggesting that the price may continue gaining value in the upcoming time.
Suppose, the bullish sentiment sustains, this could result in the LTC price retesting its immediate resistance level of $147.25. Maintaining the price above that level could push the price toward its upper price target of $180.
On the contrary, if the bears outrun the bulls, the price of Litecoin could drop toward its support trendline of $115.50. Furthermore, if the bearish sentiment intensifies, the price of this altcoin could pull toward its lower support trend level of $100.
Are you among many wondering if the LTC price will hit $1000 this AltSeason? Read CoinPedia’s latest Litecoin Price Prediction today to uncover the possible mysteries until 2030 and between!
If the bullish sentiments are sustained, the LTC token could reach a maximum trading value of $200 this year.
With increased adoption and rising bullish action, the LTC price could range between $402 and $528 during the year 2030.
At the time of writing, the value of one Litecoin token was $132.50.
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