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Litecoin Price Prediction: LTC recent rally registers a 30% price surge

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  • Litecoin price prediction highlights LTC 30 percent price surge in the last 24-hours.
  • The latest price surge pushes Litecoin past its 62 percent Fibonacci retracement level.
  • Despite having a green day, Litecoin still technical analysis paints a bearish picture.

At the time of writing, Litecoin is exchanging hands at around $168 after recording a 30 percent price increment in the last 24-hours. Despite the positive price movement, the cryptocurrency is still 63 percent down from its $420 all-time milestone set on December 12, 2017.

Litecoin Price Prediction: General price overview

During the start of trading today, Litecoin was exchanging hands at around $157, marking an 11 percent price surge on the day. The recent price increment marks the largest 1-day positive price movement since May 20. The recent price surge is significant as it pushed Litecoin’s market capitalization up to $10.6 billion. This is equivalent to 0.7 percent of the total crypto market capitalization. Although this is an impressive fete, Litecoin clocked $25.61 billion in market capitalization during its highest season. The last 24-hours have seen the cryptocurrency range between $139.8 to $163.1 price range regarding market capitalization.

Over the past 7-days, Litecoin has recorded a 45 percent price decline. Additionally, the volume of Litecoin tokens exchanged in the last 24-hours is around $6.7 billion. This is around 3 percent of the total volume of all virtual assets in the market. In the last 7-days, Litecoin has exchanged in an extension of around $118.5 to $318. Moreover, Litecoin is still down by about 63 percent from its $420 ATH set in December 2017.

Litecoin price movement in the past 24 hours

Litecoin Price Prediction: LTC recent rally registers a 30% price surge 1
Source: TradingView

At the time of writing, bearish conditions are still dominant in the crypto market, and Litecoin is not left behind. Part of why the crypto market is underperforming is the recent crypto ban by the Chinese government. For instance, LTC suffered a 16 percent price plunge during Sunday’s trading session, following a 6 percent price depreciation recorded on Sunday. The weekend trading session saw the crypto asset fall by about 51 percent to settle around the $143 price range. Despite this, Litecoin managed to record an impressive 3 percent rally during today’s early morning trading session. This price surge saw the crypto asset settling at around $147. At present, Litecoin is trading at around $170, marking a 30 percent price increment.

Litecoin 4-hour chart

Litecoin Price Prediction: LTC recent rally registers a 30% price surge 2
Source: TradingView

At the time of writing, Litecoin paints a bearish picture in its 4-hour price chart. Key technical indicators suggest the crypto asset is in for a bearish leg. This trend threatens to depreciate Litecoin’s value further downwards. For instance, the Moving Average Convergence Divergence (MACD) indicator shows Litecoin is trading way below the Signal line. This puts the crypto coin in the red zone under the command of the bears. As for its Relative Strength index, Litecoin is currently in the oversold region showing many investors are selling their holdings.

Conclusion

Although Litecoin is currently bearish, the bulls need to ensure the crypto coin does not plummet below the $146 price region as such a move would spark a new wave of selling orders. Considering the current market conditions, Litecoin would need support from its investors and the broader market to breakout towards the 62 percent Fibonacci retracement level at around $174.

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Litecoin Forecast and Analysis October 25 — 29, 2021

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Litecoin LTC/USD ends the trading week at 198.73 and continues to move within the growth and bullish channel, but now there is a rebound after updating the local maximum. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upwards. This indicates pressure from buyers of the digital asset and a potential continuation of the decline in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 145.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 305.05.

Litecoin Forecast and Analysis October 25 — 29, 2021

An additional signal in favor of raising the LTC/USD quotes in the current trading week October 25 — 29, 2021 will be a test of the support line on the relative strength index (RSI). Now the values ​​of the RSI indicator have risen to the level of 70, therefore, there may be a fall before the continuation of the growth of the coin quotes. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the 95.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 45.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 255.05.

Litecoin Forecast and Analysis October 25 — 29, 2021

Litecoin Forecast and Analysis October 25 — 29, 2021 implies an attempt to test the support area near the level of 145.05. Then, continued growth to the area above the level of 305.05. An additional signal in favor of Litecoin’s rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 95.05 area. This will indicate a continued decline in cryptocurrency with a target below 45.05.

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Litecoin Forecast and LTC/USD Analysis October 22, 2021

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LTC/USD are traded at the level of 204.04 and continue to move as part of the rise and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $13,333,492,930. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the area of ​​190.55. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 245.55.

Litecoin Forecast and LTC/USD Analysis October 22, 2021

An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of ​​170.55. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 135.55. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will indicate a breakdown of the upper border of the downward channel.

Litecoin Forecast and LTC/USD Analysis October 22, 2021

Litecoin Forecast and LTC/USD Analysis October 22, 2021 suggests an attempt to correct and test the support area near the level of 190.55. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 245.55. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 170.55 area. This will indicate a continued fall in the cryptocurrency with a target below 135.55.

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Litecoin Forecast and LTC/USD Analysis October 21, 2021

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LTC/USD are trading at 198.05 and continue to move as part of the rise and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,182,763,662. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of a digital asset and a test of the support level near the area of ​​190.05. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 255.05.

Litecoin Forecast and LTC/USD Analysis October 21, 2021

An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of ​​165.05. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 125.05. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will indicate a breakdown of the upper border of the downward channel.

Litecoin Forecast and LTC/USD Analysis October 21, 2021

Litecoin Forecast and LTC/USD Analysis October 21, 2021 suggests an attempt to correct and test the support area near the level of 190.05. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 255.05. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 165.05 area. This will indicate a continued fall in the cryptocurrency with a target below the level of 125.05.

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