In Litecoin (LTC) price prediction 2023, 2024-2030, we will analyze the price patterns of LTC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Litecoin (LTC) Current Market Status/h2
LTC Current Market Status (Source: CoinMarketCap)h2 Litecoin 24H Technicals/h2
(Source: TradingView)
h2 Litecoin (LTC) Price Prediction 2023/h2
Litecoin (LTC) ranks 18th on CoinMarketCap in terms of its market capitalization. The overview of the Litecoin price prediction for 2023 is explained below with a daily time frame.
In the above chart, Litecoin (LTC) laid out an ascending channel pattern. An ascending channel is the price action contained between upward-sloping parallel lines. Higher highs and higher lows characterize this price pattern. An ascending channel is used to show an uptrend in a security’s price. Ascending channels are short-term bullish in that a stock moves higher within an ascending channel, but these patterns often form within longer-term downtrends as continuation patterns.
At the time of analysis, the price of Litecoin (LTC) was recorded at $68.62. If the pattern trend continues, then the price of LTC might reach the resistance levels of $80.20, and $111.96. If the trend reverses, then the price of LTC may fall to the support of $65.39 & $57.58.
h2 Litecoin (LTC) Resistance and Support Levels/h2
Get The App
Join the millions of people who stay on top of global financial markets with Investing.com.
Download Now
The chart given below elucidates the possible resistance and support levels of Litecoin (LTC) in 2023.
LTC/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Litecoin (LTC) for 2023.
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Litecoin (LTC) are shown in the chart below.
LTC/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Litecoin (LTC) market in 2023.
In the below chart, we analyze the strength and volatility of Litecoin (LTC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
LTC/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Litecoin (LTC).
h2 Comparison of LTC with BTC, ETH/h2
Let us now compare the price movements of Litecoin (LTC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs LTC Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of LTC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of LTC also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Litecoin (LTC) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
h3 Conclusion/h3
If Litecoin (LTC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Litecoin (LTC) price prediction for 2023 is $75 to $95.17. Comparatively, if unfavorable sentiment is triggered, the bearish Litecoin (LTC) price prediction for 2023 is $56.22.
If the market momentum and investors’ sentiment positively elevate, then Litecoin (LTC) might hit $150. Furthermore, with future upgrades and advancements in the Litecoin ecosystem, LTC might surpass its current all-time high (ATH) of $412.96 and mark its new ATH.
This content was originally published by our partners at The News Crypto .
Written By:
The News Crypto
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get The App