In Litecoin (LTC) price prediction 2024, 2025-2030, we will analyze the price patterns of LTC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Litecoin (LTC) Current Market Status/h2
LTC Current Market Status (Source: CoinMarketCap)h2 Litecoin 24H Technicals/h2
(Source: TradingView)
h2 What is Litecoin (LTC)/h2
Litecoin (LTC) is one of the pioneer cryptocurrencies that debuted in the crypto space after Bitcoin. LTC was launched in 2011 as Bitcoin-inspired crypto. Litecoin’s creator Charlie Lee calls it a “coin that is silver to Bitcoin’s gold”. Just like Bitcoin, the Litecoin blockchain also operates on the proof-of-work (PoW) consensus.
Bitcoin and Litecoin have key differences in their supply cap, hashing algorithm, and transaction speed. LTC has a fixed supply cap of 84 million which is greater than Bitcoin’s 21 million supply cap. Unlike Bitcoin’s SHA-26 hashing algorithm, Litecoin uses the Scrypt algorithm. It takes around 2.5 minutes for a block to be generated on the Litecoin blockchain whereas it would take 10 minutes on Bitcoin.
Litecoin (LTC) Price Prediction 2024/h2
Litecoin (LTC) ranks 19th on CoinMarketCap in terms of its market capitalization. The overview of the Litecoin price prediction for 2024 is explained below with a daily time frame.
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In the above chart, Litecoin (LTC) laid out a horizontal channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line that connects the highs, and the lower trendline, the line that connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Litecoin (LTC) was recorded at $100.55. If the pattern trend continues, then the price of LTC might reach the resistance levels of $114.86, and $171.40. If the trend reverses, then the price of LTC may fall to the support of $86.15 & $57.24.
h2 Litecoin (LTC) Resistance and Support Levels/h2
The chart given below elucidates the possible resistance and support levels of Litecoin (LTC) in 2024.
LTC/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Litecoin (LTC) for 2024.
LTC Resistance & Support Levels
Litecoin (LTC) Price Prediction 2024 — RVOL, MA, and RSI/h2
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Litecoin (LTC) are shown in the chart below.
LTC/USDT Resistance and Support Levels (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Litecoin (LTC) market in 2024.
In the below chart, we analyze the strength and volatility of Litecoin (LTC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
LTC/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Litecoin (LTC).
h2 Comparison of LTC with BTC, ETH/h2
Let us now compare the price movements of Litecoin (LTC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs LTC Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of LTC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of LTC also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Litecoin (LTC) between 2025, 2026, 2027, 2028, 2029 and 2030.
h3 Conclusion/h3
If Litecoin (LTC) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Litecoin (LTC) price prediction for 2024 is $79.12 to $95.17. Comparatively, if unfavorable sentiment is triggered, the bearish Litecoin (LTC) price prediction for 2024 is $56.22.
If the market momentum and investors’ sentiment positively elevate, then Litecoin (LTC) might hit $100. Furthermore, with future upgrades and advancements in the Litecoin ecosystem, LTC might surpass its current all-time high (ATH) of $412.96 and mark its new ATH.
This content was originally published by our partners at The News Crypto .
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The News Crypto
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