Price Analysis

Litecoin Price Prediction Hints LTC is Likely to go Vertical Soon

Can Litecoin price go vertical as predicted by this analyst? Will crypto markets remain favorable for LTC to embark on another uptrend?
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Litecoin Price Prediction Hints LTC is Likely to go Vertical Soon

Highlights

  • LTC shows promising bullish momentum, signaling a potential breakout soon.
  • Strong support levels suggest Litecoin price could see significant price surge.
  • Technical indicators point to Litecoin reaching $140-$150 in near future.

The recent traction that Litecoin has gained in the past few weeks is substantial and equally understandable considering the bullish market conditions. This optimism could fuel another rally, according to an analyst, who forecasts that Litecoin price could go “vertical” soon.

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Litecoin Price Shows Strong Signal for a Potential Vertical Rise

The crypto analyst has observed a promising signal for Litecoin price, suggesting that the cryptocurrency may be poised for a significant upward movement. Recent market indicators point to a potential rally in the near future, with technical analysis suggesting LTC could be on the verge of a vertical price surge.

Top analyst highlight that key price levels and chart patterns are showing signs of bullish momentum. The most notable of these indicators is a strong support level, which has historically acted as a floor for Litecoin’s price. This suggests that any upward movement from this point could trigger a surge, pushing the cryptocurrency to new highs.

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How High Can LTC Price Go This Month?

A prominent crypto analyst has forecasted a potential rally for Litecoin price, suggesting the coin’s rise could be in its early stages. The analyst highlighted that Litecoin surged by an impressive 9,730% in 2017 and 587% in 2021 after breaking its trendline. 

According to the expert, Litecoin is currently approaching a crucial Fibonacci retracement level of 0.236. This could signal a breakout, pushing the coin towards $1,440, a 1,000% increase from its present price. With only 20 days since the latest trendline breakout, the analyst believes Litecoin’s bullish market is just getting started.

Analyst

As of the reporting time, the price of LTC is trading at $127, marking a significant 32% surge in just one month. Over the past 30 days, LTC has witnessed an impressive 90% rise, attracting considerable attention from traders and investors alike. 

The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are both signaling bullish momentum, which suggests further potential for price gains. 

If the bullish trend continues, the Litecoin price forecast could reach a target range between $140 and $150. This represents a significant potential gain from current levels. If the positive momentum persist, there’s even the possibility that LTC could surge to $200, offering a potential 100% gain.

Litecoin Price Chart By TradingView

In conclusion, the Litecoin strong technical indicators and recent price surge suggest a promising bullish outlook. If key resistance levels are broken, LTC could experience substantial gains, with experts predicting significant growth in the coming weeks.

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Frequently Asked Questions

What is the Fibonacci retracement level for Litecoin?

Litecoin is approaching the 0.236 Fibonacci retracement level, which could indicate a breakout.

What is the potential upside for Litecoin in 2023?

Analysts suggest Litecoin could see a vertical surge, with a potential rally pushing the price toward $1,440 in the long-term.

Could Litecoin’s price go higher than $150?

If bullish momentum continues, Litecoin could potentially surge to $200, offering a 100% gain.
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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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