Finance news
Story Highlights
- Litecoin price soared ~7% in 24 hours, reclaims the $90 mark.
- Technical indicators record a positive price action, highlighting further uptrend.
- Sustained bullish sentiment could push the altcoin to $100 this weekend.
The Litecoin price has experienced a strong bullish recovery after recorded a bearish price action this week. Moreover, with this altcoin retesting its $90 mark, the market is highly anticipating this project to achieve its prolonged target price of $100 this month.
With increasing price volatility in the cryptocurrency market, will Litecoin price hit $100 this weekend? Or will the price experience another pullback? In this article, we have covered the possible short-term prospects of the Litecoin (LTC) crypto token.
LTC Price Records Strong Bullish Reversal!
The Litecoin price has maintained its bullish price action by adding 6.83% to its portfolio in 24 hours with a trading volume of $1.264 billion. Moreover, with a market cap of $6.722 billion, it has surpassed Aptos price to claim the 22nd position in the market.
The Relative Strength Index (RSI) has recorded a bullish reversal with its average trendline on the verge of experience a positive convergence. This indicates an increase in the buying-over-selling pressure for the Litecoin price in the market.
The EMA 50/200-day shows a Golden Cross in the daily time frame. This suggests that the LTC coin price may continue gaining value during the upcoming time.
Will Litecoin Price Hit $100 This Week?
If the bullish sentiment sustains, the LTC price will retest its resistance level of $90. Furthermore, if the bulls dominate the crypto space, this could result in this altcoin heading toward its target price of $100 this month.
On the flip side, if a bearish trend reversal occurs, the Litecoin token will retest its support trendline of $80. Moreover, if the bears outrun the bulls, the altcoin will plunge toward its lower support level of $67.50 during the upcoming time.
Curious to findout the long-term possibilities of this altcoin? Read CoinPedia’s Litecoin Price Prediction and also subscribe us to stay updated on the latest crypto news!
FAQs
Will Litecoin reach $500?
For LTC price to hit this target price, it will require a surge of 461.46% in its present valuation.
Does LTC have a future?
With a monthly growth of ~30%, this altcoin promises a positive long-term price action.
What will Litecoin be worth in 2030?
Considering the present market sentiments, the LTC price may hit $500 in 2030.
