- Litecoin was among the cryptos which have recovered from the loss incurred from the FTX debacle in a very short time frame.
- Meanwhile, the price is approaching the yearly close but woefully experiencing a dreadful plunge compelling the trend to remain consolidated close to the lower support.
- The Litecoin price is trying hard to set up a firm recovery and hence led a bullish close for the previous day at $65.63 with a market capitalization of $4.72 billion and a circulating supply of 71.87 million.
Litecoin Price History: 2022 Year in Review
|Month||LTC Price||% Change|
Read more: Top Cryptos by Volume
This is How Litecoin Price Performed in 2022
Litecoin is believed to be the most undervalued token as it shares a similar history as Bitcoin. Built on the fundamentals of the star crypto with some enhanced features, Litecoin dropped heavily during the first half of 2022. The drop had ignited back in 2021 which was fueled by the collapse of the Terra ecosystem. Surprisingly, while most of the cryptos dropped by nearly 50% due to the FTX debacle, LTC price recovered 100% of losses incurred during this time and continues to remain above these levels at the moment.
The trade has now approached the edge of the 2022 consolidation and the recent drop, diminishes the possibilities of a bullish close. The price may remain highly consolidated until the end and eventually try to rise slightly to close the trade around $80. As the bears hold a tight grip around these levels, it may again get rejected to start the 2023 trade on a bearish note.
Litecoin Technical Analysis for 2022
- Ever since the LTC price was slashed in the H1 2022, the token began with a parabolic recovery which was interrupted by the recent price slash.
- The price broke below the parabolic curve and is currently consolidating within narrow ranges, probably accumulating strength to manifest a giant move before the end of 2022.
- In such case, the price may re-enter the curve and rise high along the curve to hit a 3-digit figure during the first few days of 2022.
- Meanwhile, a rejection from the current consolidation may result in a retest of the lower support below $50.
Litecoin Price Prediction 2023
After the Litecoin price marked its highs above $400 in H1 2022, it began to crash heavily forming constant lower highs and lows. Presently, after hovering along the last point of defense for a couple of months, the prices have risen slightly and broke beyond the bearish consolidation. The volume also has intensified slightly which may further assists the price in rising high during the first few weeks of 2023.
The year 2022 turned out to be pretty bearish for the crypto and hence the upcoming year 2023 may ignite a decent recovery. While the price is believed to rise beyond $100 and maintain above these levels. Moreover, the possibility of reaching $200 also emerges which also includes a couple of bearish pullbacks. But by the end of the yearly trade, the price could hover between $180 to $200.
Litecoin Price Prediction 2024
The upswing ignited during the H1 2023 is believed to continue for long as the prices are believed to inflate through out the year 2024. Moreover, after a bear market in 2022 and maintaining an ascending consolidation in 2023, the LTC price may begin with a firm upswing in 2024 which could turn into a bull run too. However, the price may still struggle to reach its ATH which is close to $500.
The traders who were trapped at the higher levels during the previous bull run are believed to extract their profits which may cause some turbulence with the LTC price. However, the bulls may maintain certain strength and may hold the levels,each time it faced a minor pullback. However, by the end of 2023, the Litecoin price is believed to rise beyond $300 and offer a bullish kick to achieve new highs in 2025.
Litecoin Price Prediction 2025
In the larger time frame, the Litecoin price appears to have ignited a firm rebound from the mutli-year support which is being held since 2018. The LTC price undergo a ‘U-shaped’ recovery and reach the upper resistance above $300 in the near future. After reaching these levels, the LTC price may face a slight pullback but may defend the support at $280.
Besides, the volume has also piled to some extent which is displaying the possibility of igniting a bullish wave very soon. During the 2025 rally, the LTC price may form a new ATH and may further maintain a firm upswing despite experiencing a significant pullback. Therefore, the LTC crypto price prediction for 2025 could be around $450 to $550.
|Year||Litecoin Price Prediction|
|2022||$85 to $87|
|2023||$150 to $190|
|2024||$250 to $310|
Read more: Litecoin Price Prediction
Overview of Litecoin On Chain Analysis:
Litecoin Whale Distribution
Whales play a very important role in determining the upcoming trend within the crypto space. With a rise in the whale accumulation, the possibility of a major price action may be expected in th enear future. Mainly due to the reason that the whales hold huge amount of cryptos, their movement is closely tracked and followed. If the whales sheds or just transfers a small share in his accumulation, it creates a huge FUD within the space, dragging them lower to some extent.
The whales are on who hold more than 1000 tokens. The whales accumulated and maintained their holding until the Terra collapse. Further some of them sold, some accumulated, mainly driven by the ongoing market sentiments. Presently, after the FTX debacle, the whales holding between 10K to 1M LTC have been switched back to accumulation mode.
The social dominance of the asset is calculated by comparing the posts or messages against the mentions of the top 100 cryptos as per the market cap. If the dominance is rising,then it is considered with respect to top 100 cryptos itself. Meanwhile, the social dominance is calculated considering the mentions on the crypto platforms as well as the social media platforms.
The dominance has been varying heavily since the beginning of the yearly trade which had spiked heavily when the LTC price marked its lows in June. Presently, the dominance has maintained a decent levels and after marking its interim lows, is now rising high slowly indicating the maket participants showing interest in the token again.
Total Weighted Sentiments
Total weighted sentiments is a metric which indicates the sentiments of the market participants with respect to the token. It combines all the positive and negative mentions and compares it with the frequency over the time. A rise in the sentiments denotes the positive market sentiments while a drop indicates the market participants being bearish on the token.
The total weighted sentiments maintained along the average levels largely which included a couple of spikes. Meanwhile, the price may not be directly impacted by may create a FOMO factor among the traders which may pile up bullish pressure ahead. Presently, the levels are rising, hence indicates gearing up of the token for a giant move ahead.
Should you Invest in Litecoin in 2023?
Litecoin is considered as the only altcoin which continues to remain in existence after Bitcoin. With a history of sustain nearly 2 to 3 bear markets, LTC price seems to have proved its sustainability. Moreover, the development team now appears to have geared up working on new improvements which has attracted the traders back into the space. The future path of the platform appears promising but before investing in LTC, a through market research and the price trend analysis is very important.
Top Crypto News of 2022 that Impacted LTC Price
- Similar to the other cryptos in town, Litecoin price was badly impacted with the Russia-Ukraine conflict during the Q1 2022 which hindered the rally that was moving towards the north.
Bitcoin tumbles 8% and other cryptocurrencies crash after Russia attacks Ukraine https://t.co/FmUtE3B4rO
— CNBC (@CNBC) February 24, 2022
- The market was surrounded by FUD but the collapse of the Terra ecosystem halved the price in a very short time
today's attack on Terra-Luna-UST was deliberate and coordinated. Massive 285m UST dump on Curve and Binance by a single player followed by massive shorts on Luna and hundreds of twitter posts. Pure staging. The project is bothering someone. 🌝 on the right path!
— Caetano Manfrini 🔺 (@caemanfrini) May 8, 2022
- The collapse of Terra created a ripple of fallouts and the latest to join the group was the worlds most popular exchange FTX
1) I'm sorry. That's the biggest thing.
I fucked up, and should have done better.
— SBF (@SBF_FTX) November 10, 2022