Litecoin Price Prediction 2022 — Will LTC Hit $150 Soon?
- Bullish LTC price prediction is $81.50 to $132.
- The LTC price will also reach $150 soon.
- LTC’s bearish market price prediction for 2022 is $54.
In Litecoin (LTC) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about LTC to analyze the future movement of the cryptocurrency.
LTC Current Market Status
According to coingecko, the price of LTC is $69.58 with a 24-hour trading volume of $456,119,830 at the time of writing. However, LTC has increased to 2.6% in the last 24 hours.
Moreover, LTC has a circulating supply of 70,332,670 LTC. Currently, LTC trades in cryptocurrency exchanges such as Binance, OKX, Bybit, BitCoke, and FTX.
What is Litecoin (LTC)?
Litecoin (LTC) is a digital currency that is developed to offer fast, secure, and low-cost payments by providing the unique properties of blockchain technology. LTC was created in October 2011 by former Google engineer Charles “Charlie” Lee. Moreover, the crypto was developed based on the Bitcoin (BTC) protocol.
However, it varies in terms of the hashing algorithm utilized, hard cap, block transaction times, and some other factors. More so, LTC has a block time of just 2.5 min and highly low transaction fees.
Litecoin (LTC) Price Prediction 2022
Litecoin holds the 18th position on CoinGecko right now. LTC price prediction 2022 is explained below with a weekly time frame.
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline.
The lower line is identified as parallel to the trendline, running across the bottom. It is a bearish chart pattern defined by a trendline supporting the series of lower lows and a diagonal resistance level connecting the lower highs.
Currently, LTC is at $69.59. If the pattern continues, the price of LTC might reach the resistance level of $81.50, $109, and $132. If the trend reverses, then the price of LTC may fall to $54.
Litecoin (LTC) Support and Resistance Level
The below chart shows the support and resistance level of LTC.
From the above daily time frame, it is clear the following are the resistance and support levels of LTC.
- Resistance Level 1 – $97.2
- Resistance Level 2 – $134.4
- Resistance Level 3 – $176.4
- Resistance Level 4 – $237.3
- Resistance Level 5 – $330.9
- Support Level – 55.5
The charts show that 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 $330.9.
Accordingly, if the investors turn against the crypto, the price of the LTC might plummet to almost $55.5, a bearish signal.
Litecoin Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of LTC is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of LTC lies below the cutoff line, indicating weaker participants in the current trend.
More so, the LTC’s Moving Average (MA) is shown in the chart above. Currently, LTC is in a bearish state. Notably, the LTC price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of LTC at any time.
Meanwhile, the relative strength index (RSI) of the LTC is at a level of 38.22. This means that LTC is in a nearly oversold state. However, this gives confidence to the traders to trade without any fear.
Litecoin Price Prediction 2022 — ADX, RVI
Let us now look at Litecoin’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. ADX is a component of the Directional Movement System. This system attempts to measure the strength of price movement in the upward and downward directions using DMI indicators with ADX.
The above chart represents the ADX of Litecoin. Currently, LTC lies in the range of 53.8, so it indicates a very strong trend.
From the above chart, the Relative Volatility Index (RVI) of LTC. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of LTC lies above the 50 levels, indicating that the direction of volatility is high. In fact, LTC’s RSI is at the 38.22 level thus confirming a potential sell signal.
Comparison of LTC with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum and Litecoin.
From the above chart, we can identify the trend of the ETH, BTC and LTC is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and LTC also increases or decreases respectively.
Conclusion
With continuous improvements in the Litecoin network, we can say that 2022 is a good year for LTC. For this reason, the bullish price prediction of Litecoin in 2022 is $330.9. On the other hand, the bearish LTC price prediction for 2022 is $54.
Furthermore, with the advancements and upgrades to the LTC ecosystem, the performance of LTC would rise reaching $132 very soon. But, it might also reach $150 if the investors believe that LTC is a good investment in 2022.
FAQ
Litecoin (LTC) is a digital currency developed to offer fast, secure, and low-cost payments by offering the unique properties of blockchain technology.
LTC has listed on many crypto exchanges which include Binance, OKX, Bybit, BitCoke, and FTX.
With the ongoing developments and upgrades within the LTC platform, it has a high possibility of reaching its ATH soon.
On May 10, 2021, LTC reached its new all-time high (ATH) of $410.26.
Litecoin seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of LTC in the past few months, LTC is considered a good investment in 2022.
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 2023.
Litecoin (LTC) price is expected to reach $280 by 2024.
Litecoin (LTC) price is expected to reach $320 by 2025.
Litecoin (LTC) price is expected to reach $400 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
