Litecoin Price Forcast: Can LTC Price Surge Above $120 This Weekend

Litecoin Price Forcast: Can LTC Price Surge Above $120 This Weekend

ltcprice

The post Litecoin Price Forcast: Can LTC Price Surge Above $120 This Weekend appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

For most of the past year, the price of Litecoin has been declining. LTC fell below $300 in November after failing to stay above that level. Since January, the coin has been testing the $100 mark. The overall sentiment in the crypto market, though, remains gloomy.

Although this cryptocurrency has been hitting lower highs, which is a negative indicator, the $100 support zone has held.

The price trades in a relatively narrow range with very little price movement. From a technical standpoint, the price of LTC is lingering near the support zone, from which a price rebound is predicted.  The price retraced a multi-week support level after marking the recent highs. In the five sessions since then, the price of LTC has risen.

If Litecoin purchasers can rise beyond the 50-day EMA at $116.55 on the daily chart, it will enhance the price’s bullish arguments because it will indicate the crossing of a big upside barrier. The bulls will target the April 6 highs of $123.24 as their target.

ltc Price

A move below the session’s low, on the other hand, would undermine the asset’s bullish analysis. On the downside, the price might drop below the psychological level of $100.

Despite the fact that LTC was able to recover and trade at $100 on April 27, it may not be able to generate enough demand for a near-term gain. There may be little reason to expect a long-term positive reversal in the market unless the bulls successfully push the market price above the moving averages.

Conclusion

A week ago, there was a surge in activity in wallets holding more than $100k. However, the price of Litecoin did not rise as a result of this. Instead, it remained bearish and continued to fall. The sellers failed to break below the $100 support level yesterday. That was a promising indication. However, because the bearish pressure is still present today, the digital asset may witness a downside breakout.

Did you like this?
Tip Bitcoin Tradeboard with Cryptocurrency

Donate Bitcoin to Bitcoin Tradeboard

Scan to Donate Bitcoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to Bitcoin Tradeboard

Scan to Donate Bitcoin Cash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to Bitcoin Tradeboard

Scan to Donate Ethereum to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to Bitcoin Tradeboard

Scan to Donate Litecoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to Bitcoin Tradeboard

Scan to Donate Monero to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to Bitcoin Tradeboard

Scan to Donate ZCash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some ZCash: