Litecoin (LTC) Price Prediction 2023 — Will LTC Hit $150 Soon?
- Bullish LTC price prediction is $97.81 to $134.95.
- Litecoin (LTC) price might also reach $150 soon.
- Bearish LTC price prediction for 2023 is $55.40.
In Litecoin (LTC) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about LTC to analyze the future movement of the cryptocurrency.
Litecoin (LTC) Current Market Status
|24 – Hour Trading Volume||$701,523,102|
|24 – Hour Price Change||2.3% up|
|All – Time High||$410.26 (On May 10, 2021 )|
What is Litecoin (LTC)?
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 2023
Litecoin (LTC) holds the 16th position on CoinGecko right now. LTC price prediction 2023 is explained below with a daily time frame.
The above chart of Litecoin (LTC) laid out the Horizontal channel pattern. 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 which connects the highs, and the lower trendline, line which 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.
Currently, Litecoin (LTC) is in the range of $90.27. If the pattern continues, the price of LTC might reach the resistance levels of $86.45, and $160.56. If the trend reverses, then the price of LTC may fall to $63.72 & $47.15.
Litecoin (LTC) Support and Resistance Levels
The chart below shows the support and resistance levels of Litecoin (LTC).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Litecoin (LTC).
|Resistance Level 1||$97.81|
|Resistance Level 2||$134.95|
|Support Level 1||$74.96|
|Support Level 2||$55.40|
The charts show that Litecoin (LTC) has performed a bullish trend over the past month. If this trend continues, LTC might run along with the bulls overtaking its resistance level at $134.95.
Accordingly, if the investors turn against crypto, the price of Litecoin (LTC) might plummet to almost $55.40, a bearish signal.
Litecoin (LTC) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Litecoin (LTC) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of LTC lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Litecoin (LTC) is shown in the chart above. Notably, Litecoin (LTC) price lies above 50 MA (short-term), so it is in a upward state. Currently, LTC has entered a bullish state. Therefore, there is a possibility of a reversal trend of LTC at any time.
Meanwhile, the relative strength index (RSI) of the LTC is 63.97. This means that Litecoin (LTC) is nearly in an oversold state. However, this means a major price reversal of LTC may occur in the upcoming days. So, traders need to trade carefully.
Litecoin (LTC) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Litecoin (LTC). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Litecoin (LTC). Currently, the ADX of LTC lies in the range of 49.56 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Litecoin (LTC). RVI measures the constant deviation of price changes over a period of time. The RVI of LTC lies above 50, indicating lhigh volatility. In fact, the RSI of Litecoin (LTC) is at 63.97 thus confirming a potential sell signal.
Comparison of LTC with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
From the above chart, we can interpret the price changes of ETH and LTC are moving in a similar trend. This indicates that when the price of ETH increases or decreases, the price of LTC also increases or decreases respectively.
Litecoin (LTC) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s check what Litecoin (LTC) will price between 2024 and 2030.
Litecoin (LTC) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Litecoin (LTC) might probably attain $200 by 2024.
Litecoin (LTC) Price Prediction 2025
With several upgrades in the network, Litecoin (LTC) might enter a bullish trajectory. If the coin grabs the attention of major investors, LTC might rally to hit $250 by 2025.
Litecoin (LTC) Price Prediction 2026
If Litecoin (LTC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, LTC would rally to hit $300.
Litecoin (LTC) Price Prediction 2027
If Litecoin (LTC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, LTC would rally to hit $350.
Litecoin (LTC) Price Prediction 2028
If Litecoin (LTC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, LTC would rally to hit $400.
Litecoin (LTC) Price Prediction 2029
If Litecoin (LTC) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, LTC would hit $450 in 2029.
Litecoin (LTC) Price Prediction 2030
If investors flock in and continue to place their bets on Litecoin (LTC), it would witness major spikes. LTC might hit $500 by 2030.
With continuous improvements in the Litecoin network, we can say that 2023 is a good year for LTC. For this reason, the bullish price prediction of Litecoin (LTC) in 2023 is $134.95. On the other hand, the bearish price prediction of Litecoin (LTC) for 2023 is $55.40.
Furthermore, with the advancements and upgrades to the Litecoin ecosystem, the performance of LTC would help to reach above its current all-time high (ATH) of $410.26 very soon. But, it might also reach $150 if the investors believe that LTC is a good investment in 2023.
Litecoin (LTC) is one of the pioneer cryptocurrencies that was launched in 2011 after Bitcoin. It operates based on the proof-of-work (PoW) consensus model. Litecoin (LTC) is “silver to Bitcoin’s gold”.
Litecoin (LTC) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, OKX, BKEX,Bybit.
With the ongoing developments and upgrades within the Litecoin platform, LTC has a high possibility of reaching its ATH soon.
On May 10, 2021, Litecoin (LTC) reached its new all-time high (ATH) of $410.26.
Litecoin (LTC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Litecoin in the past few months, LTC is considered a good investment in 2023.
Litecoin (LTC) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Litecoin (LTC) will hit $150 soon.
Litecoin (LTC) price is expected to reach $200 by 2024.
Litecoin (LTC) price is expected to reach $250 by 2025.
Litecoin (LTC) price is expected to reach $300 by 2026.
Litecoin (LTC) price is expected to reach $350 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.