Price Predictions

Litecoin Price Prediction: Can LTC price be able to rally till $100 by the end of 2022?

KEY TAKEAWAYS 

  • Litecoin price has been staging one of the best recoveries in the past couple of weeks, going all the way from $50 to near $80 levels as of writing.
  • It has been recovering strongly on the back of positive technical indications, creating a higher high, higher low pattern on the charts.

LITECOIN PRICE PREDICTION TODAY

Current Price $72.2
LTC Price Prediction for Today $73
50-Day SMA $59.5
14 Day RSI 58.6
Sentiment Bullish
Fear and Greed Index 48 (Neutral)
Green Days 15/30(50%)
200-Day SMA $58

Read more: Top Cryptos by Volume

Litecoin Technical Analysis

LTC/USD | Source: Tradingview

  • As mentioned earlier, Litecoin has been one of the better and more consistent performers in the market right now.
  • Litecoin price has been loitering around between $50-60 for a very long time, especially since the crash of May 2022 – post the Terra LUNA depegging fiasco.
  • But ever since the beginning of November 2022, despite the FTX collapse earlier this month, LTC price has bottomed out at $50 and quickly recovered all the way to $80 before correcting slightly.
  • LTC price has also seen a very positive golden crossover of the 50 and the 200 day moving averages, thanks to this recent rally.
  • This rally has also helped LTC price break out of a crucial resistance level (marked in yellow) of about $63 – as we had mentioned in one of our earlier articles.
  • Even the Relative Strength Index for this popular altcoin is on the positive side, currently running at about 58, which would be able to support further bullish action in Litecoin.

Additional read: Litecoin on-chain metric analysis

LITECOIN TECHNICAL ANALYSIS AT A GLANCE

Litecoin’s strong rebound has changed things for the better in this current iteration of the rally and here’s a snapshot of the technical analysis and projection for the short, mid and the long term of the coin.

Short-Term(4hr)

The short term price action for Litecoin puts it at a healthy position with a strong pennant for a continued bullish action going forward.

Mid-Term(1D) On the daily front, as covered in detail above, things look very positive too and technicals seem to suggest that aggressive buying is underway in the coin.
Long-Term(1W) On the weekly timeframe however, things look slightly less optimistic, which is primarily due to the long drawn bear market that we are currently experiencing right now. So, as we see further recovery in the shorter timeframes, we will see a change in the long-term prospects too.

WILL LTC PRICE REACH $73 TODAY?

Litecoin price has been able to hold on to the $70 level for several days now, despite the ups and downs in the overall crypto market. That is a very strong sign that there is heavy buying happening, especially indicated by the higher high, higher low chart pattern that is clearly evident above. This is typically a very bullish indication that buyers are stronger in the market and they will be able to absorb all the selling pressures.

Thus, with that in mind, LTC price can easily be able to break past the $73 mark by the end of the day and maybe even reach the $80 mark again in the next couple of days. This is thanks to the strong support from the bullish golden crossover of the 50 and the 200 day moving averages and also a healthy RSI level on the technical front.

WILL LTC PRICE REACH $100 BY THE END OF THE MONTH?

With only two more days for November to officially end – Litecoin can quite possibly breach past the $100 level by the end of December 2022 – which also happens to be the end of 2022. This amounts to about 25% rally in LTC price over the course of the next month.

Also, as is evident from the chart above, the next significant level of resistance for LTC price from current levels is at $100 (trendline marked in black). $100 marks a psychological as well as a technical region of resistance for the altcoin as it was the level where the coin had taken support earlier in the year in March 2022 too, before the May 2022 crash happened.

LITECOIN PRICE PREDICTION: PRICE TREND COMPARISON WITH BITCOIN (BTC)

LTC vs BTC | Source: Tradingview

  • Litecoin was built directly from the Bitcoin – as in it was a source code fork of the Bitcoin Core client and differentiated itself by decreasing block generation time and increasing the maximum number of coins among several other things.
  • Thus, Bitcoin and Litecoin typically tend to move together, but as we can see from the chart above – it is clearly evident that Litecoin has been better at recovering from the lows in the last couple of days than Bitcoin.
  • Even since the month of April 2022 – Litecoin has only shed about 40% while Bitcoin is down about 62%.

LITECOIN PRICE PREDICTION: 2022, 2023, 2024, 2025

Year LTC Price Forecast
2022 $95 to $100
2023 $130 to $140
2024 $200 to $220
2025 $300 to $350

Read more: Litecoin Price Prediction 2022

Litecoin News Today

  • Litecoin has been a wholehearted supporter of its proof of work (PoW) consensus mechanism and is still continuing to do so.

  • Litecoin’s mining difficulty has also hit a new all time high, which could also explain the strong recovery on the charts.

Prices as on 28 November, 2022.

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