Cryptocurrency Price Prediction; Litecoin, Leading The Rebound

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Cryptocurrency Price Prediction; Litecoin Led The Rebound, Now It’s Leading Again

Litecoin Advanced Nearly 20% In Four Days

Litecoin was one of the top performers during the first-quarter cryptocurrency rebound. The coin advanced 400% from its low, set in December 2020, to its high, set just last month. Since then Litecoin has been in a major price correction and consolidation and that is now officially over.

Over the last four days Litecoin has advanced nearly 20%, most of that movement in just two days. The coin has formed a textbook Rising Three Methods Candle Pattern and that is pointing to underlying market strength. Price action over the last two months has been textbook as well, prices retreat to the 38.2% retracement level where it bounced, confirmed support, and formed the aforementioned candle pattern.

Litecoin is now above the short-term 30-day moving average where it has confirmed support. This confirmation is accompanied by a strong bullish entry signal that I think will lead to a significant increase in prices. The signal is a bullish crossover in both MACD and Stochastic that is coincident with a bounce from support, break above the moving average, and strong candle pattern.

The Rising Three Methods is one of my favorite candle patterns because it is easy to spot and usually leads to higher prices. The pattern starts out with a strong white candle followed by two smaller candle. The first candle shows a strong move higher in the market, the next two are a consolidation, kind of like a micro Bullish Flag Pattern, and the confirmed with the fourth candle. The fourth candle is also a strong white candle that closes at a new high, showing bulls are still in control after the consolidation. If this pattern is merged to form a weekly candle it becomes a single, long Marubozu Candle.

Where will Litecoin go from here. Well, the initial rally from the low in December took Litecoin up $80 or 400%. On a dollar basis it looks like the new move is likely to advance about $80 from the $70 support zone making $150 a good target in the near-term. Longer-term, the 400% rise from the lows to the recent highs, projected from the $70 support level, puts LTC near $350. This target is in line with my expectation LTC will retest its all-time highs and that may happen as soon as the end of this year.

The first major target for resistance is at $100. This is the high set last month and a confirmed low set during last years price action. Once Litecoin is able to break above this level a move to $150 will come fairly quickly I think. A touch to $150 may induce another correction or consolidation and that will be another time to get into this token. I’d be careful taking profits at the $150 level without a solid sell signal; just because it’s a possibility doesn’t mean it will happen. I’d hate to be in this trade and get out too soon. PS. I own several LTC and will be HODLing them for the foreseeable future.

Litecoin Price Prediction for 2020- Expert Predictions And Technical Analysis

[Updated February 15, 2020]Last August, we saw Litecoin go through halving where its block reward reduced from 25 LTC to 12.5 LTC. Before the highly anticipated event, the price of LTC managed to stage a rally of sorts as investors bought in since they expected the price to rise once the halving event took place.

However, the opposite happened. Litecoin managed to peak at around $140 in June and since then has been in a steady decline.

But lately, LTC has been working on several initiatives that are bound to push its price higher in 2020. These include the introduction of confidential transactions that will help wear off the fungibility problem. It’s a move that will help LTC step out of the shadow of BTC by creating its own identity.

Also, recently the platform stepped into philanthropy, and by teaming up with UNICEF kid power, a program that shows children they have the potential to make a difference. We know it’s not price-related, but it’s positive for the image of LTC.

In this piece, we are going to review a few expert predictions, news events, and analysis of the charts to see why 2020 seems promising for LTC.

Litecoin Price Prediction – What Experts Believe About the Litecoin Price?

Litecoin is the 6 th largest digital currency in the market with a market cap of over $4.9 billion. The coin was created in 2020 and was built on the same blockchain as BTC. Additionally, LTC can be used to make payments.

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The biggest advantage of LTC over BTC is speed. It is referred to as “Lite” because it’s four times faster than BTC.

Crypto price prediction isn’t that easy, given the volatile nature of the market. However, this doesn’t stop people from trying to predict what the price will be using different metrics.

According to the technical analysis done by TradingBeasts, they see the coin in two or three years, as a good investment that will bear handsome returns.

Crypto prediction website Coin Price believes 2020 will be a bull market for all cryptocurrencies, and based on this, they see the price of LTC going to the $124 level.

The positive prediction is supported by DigitalCoinPrice, which sees LTC trading at around $106 by the end of this year.

Not everyone is very optimistic about the price of LTC as Wallet Investor sees a reverse in fortunes for LTC. They predict the coin would end the year at $22, which would mean a loss of more than 50% on its current price. But we believe this is highly unlikely given that Litecoin is working on several initiatives that are likely to boost its price.

George Tung, LTC prediction of $1500 by the end of the year was backed by John McAfee, who stated that the coin could rise just as much, if not more, than BTC.

After Charlie Lee, the CEO of Litecoin platform left LTC for Coinbase, then went back to LTC again, many believe that the digital currency’s price has a bright future.

Additionally, technical analysis has captured several opportunities wherein Litecoin price could be among the top gainers by the end of 2020. Other charts show LTC price gains expected to spread over to 2020 and beyond.

Profit Confidential & Kelly

A while ago, there was a litecoin price prediction that caught our eyes. The price prediction was from Kelly, a manager of BK Capital Management LLC, which claimed Litecoin could hit $500. The price prediction was posted in 2020 in December, but we’re still on track to reach that amount. However, we need to do it step by step with a steady growth. This is a good litecoin price prediction for 2025, but not for this year.

Litecoin Technical Analysis Price Prediction

LTC is breaking up to a previous high and looking to push above the high. A break and hold above 7050 sats would clear the 200ma and make a new high. This would make LTC very bullish on an outlook for daily resistance above 8000 sats . Look too long if this crucial point breaks and holds. Volume is holding strong, while RSI is pushing to overbought. The overall trend looks strong though, look for T1 at 7380 sats . T2 placed at 7650, and finally, T3 at 8330 sats . Expect a struggle above T3 and recommend closing at the given take profit points.

Possible Entries: 7050

The analyst says that he found a good trade setup for LTC/BTC trading pair

He offers the following reasons for trade;

1. Previous resistance around (5993sats-6462sats) price broke out it will turn to support hopefully

2. MACD is in a good by zone. We don’t want to go short now.

3. You can place a buy order around 6500sats and take short term profits at the next resistance around (7075sats)9% profit insight.

4. You can exit this trade if the price drops below 5975sats

LTC/BTC has been moving under a channel for a very long time.

Currently, the 200 MA, along with the upper trend line resistance, is acting as a point of resistance. If we manage to break the resistance, then the green dotted lines will be the possible target areas we will be looking for. We can long the retest of the channel breakout. If we get the right Volume and momentum, it’s highly likely that we will break out of the channel soon.

The analyst promises to inform us if the idea gets invalidated, and as soon as we break the trend line where he will offer us the exact entries and SL for this trade setup.

The analyst advises that we should avoid taking this trade without using a stop loss. The chart represents the trader merging with the analyst to take a “MANAGED” Risk. How is it managed? By placing a stop loss, a tad higher than the previous low on the last Daily Candle in anticipation of a HIGHER LOW on the next pullback. It’s possible it could really take off from here. This is our way of avoiding missing out if it were to take off from here to the upside. If it ends up dropping down low enough to trigger your stop loss, at least your stop loss was tight and less than 2 percent. You should also have an alarm set for the stop loss price and be prepared to get in on a potential dip if we were to fall to a LOWER low instead of a higher low on the Daily TF.

The analyst says that Litecoin has seen a small price rebound after finding support at $57.64. And the cryptocurrency is now ranked in the 7th position as it holds a market cap value of $3.77 billion.

Litecoin saw a 23% price drop over the past 7-days of trading as the cryptocurrency drops into support at $57.64, provided by a short term .786 Fibonacci Retracement level. The latest price decline brought Litecoin beneath the February 2020 opening price as it created a fresh lower low.

Litecoin is now ranked in the 7th position as it holds a $3.77 billion market cap value. If it can rebound from the current $57.64 support, it should be able to rise higher to claim the 6th position ahead of BSV.

Litecoin Partnerships in 2020

In a bid to boost the adoption of Litecoin as a payment method around the world, the fifth largest cryptocurrency has partnered with two influential organizations. The partnerships were announced on February 27 within 24 hours leading to excitement within the LTC community. The first partnership was with Glory, an international kickboxing promotion company which was founded in 2020. While this may not affect our litecoin price prediction too much, its nice to see that LTC is gaining more and more visibility.

The collaboration will see Litecoin become the first official cryptocurrency of the premier stand-up combat league. According to the agreement, fans of Glory kickboxing will now have access to Litecoin as a payment option on the company’s online merchandising platform GLORYshop.com

The other partnership was with C&U Entertainment a K-Pop production company. The collaboration will see LTC promoted in the upcoming “Feel the K-Pop Concert” which is scheduled to take place on April 6 at the George Manson University.

According to the announcement, there will be ULTRA VIP tickets that will be purchased in LTC. The tickets will offer the best seating and experience. The Litecoin Foundation will also have a team on site that will be educating concertgoers on the power of LTC.

Both partnerships are enormous and are set to influence the price of LTC positively over the next few months.

Litecoin Technology

Litecoin is designed to solve problems that hinder the Bitcoin Network. Therefore, it’s made to not inherit the scalability issues of Bitcoin. Litecoin is said to be four times faster than Bitcoin during transactions based on block design.

Such qualities make it the envy of merchants who are keen on adding a crypto payment option for their customers. Eventually, this advantage will lead to massive adoption that will push the price of Litecoin even higher.

Being an open-source project, Litecoin has enough room to introduce fresh ideas into the platform allowing it to occupy a higher position as the coin of choice.

Litecoin uses an improved Proof-of-Work (PoW) algorithm which in turn simplifies the mining operation.

Additionally, its technology has also seen Litecoin charge meager transaction fees compared to its rival, bitcoin. It endears Litecoin to more people looking to save on transaction fees.

A reason of why Litecoin’s price increased in 2020 was because of Litecoin’s cooperation with Beam. As they stated in the article:

We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.

Litecoin is already an useful cryptocurrency, combining Litecoin with mimblewimble’s privacy protocol could easily improve Litecoin’s value, adoption and usefulness.

Confidential Transactions and Fungibility On Litecoin

Litecoin is also going to be introducing Confidential Transactions during this year. At least this is what the team behind Litecoin wants to do. With this implementation, the Litecoin community will have the possibility to protect its privacy and have a fungible digital asset to make transactions.

The announcement was made by Charlie Lee, the Founder of Litecoin, earlier this year on Twitter. He said that fungibility is the only property of sound money that is missing from Bitcoin and Litecoin.

It is possible to exchange fiat currencies with different individuals without having to be worried about whether the funds will be accepted or not. However, this is something that is currently not possible in different digital assets because all the transactions are registered on the blockchain. If there are digital assets that were used by money launderers or drug dealers, these would not be accepted by many exchanges and other users.

When the announcement was made official by Charlie Lee, a few days after, Litecoin skyrocketed from $32 to $45 in just a few hours. Since then, the virtual currency surged to $140 before declining again.

Litecoin News Today – Is Litecoin Price Leading the Market Back To 2020 Price Levels? April 2nd, 2020

Litecoin news today – LTC is known for being one of the first altcoins to start seeing growth or heading backward after an extended period of sideways trading. After the recent crash caused by the coronavirus, Litecoin price has now started to move in a way that indicates that it may be leading the cryptocurrency market to a devastating crash. There is a strong chance that all assets may be dragged to the prices last seen in 2020. At the time we had not seen the epic bull run that took BTC price sky-high and put the entire crypto market on the map.

Litecoin (LTC) Price Today – LTC / USD

Litecoin
Name Price
$40.32

Litecoin News Today – Litecoin Drags Digital Assets to 2020 Price Levels

Litecoin often follows BTC or leads the way if Bitcoin fails to do so. Whichever way it takes will depend on the present structure of the market, overall sentiment, and several other factors. In the early part of 2020, Litecoin led cryptos toward a recovery. This rally was fueled by it’s halving. Since 2020, Litecoin has been among the first tokens to rebound to new highs. However, after reaching highs, Litecoin and the crypto market experienced another bloodbath alongside traditional markets. Litecoin might now be leading the way for the market to reach prices that haven’t been posted before the 2020 bull run. Before the crypto bubble, LTC price traded under $10. Experts are speculating that this level might be LTC’s final target from the forthcoming LTC drop.

Litecoin Price Prediction – Deeper Correction May Happen Before any Huge Upside Movement

One crypto analyst believes LTC price will undergo a deeper correction before any upside price action following an analysis of the Elliott Wave Theory. He considered how this will apply to LTC/USD charts. LTC price is now mid-way through wave B as it heads towards an ABC correction. The expected target for wave B will see Litecoin price back under $10. Litecoin usually leads the way with BTC. Hence, the rest of the digital currency market will head back to 2020 price points. After this target has been reached by LTC, cryptos will enter the C wave of the ongoing ABC correction which could take the price of Litecoin to over $3,000. Note that the Elliott Wave Theory is decided based on investor emotional impulses that usually drive price actions in speculative assets. A small number of investors are as emotional as crypto investors. They have can accurately predict future price movements for digital assets.

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