Will Litecoin (LTC) Hit $150 in 2023?

Litecoin (LTC) is currently trading for $77.24 on CoinMarketCap, with a 24-hour trading volume of $2,035,182,382. LTC has risen by almost 26.5% over the past 24 hours.

The current supply of Litecoin (LTC) is 71,674,108 LTC. Litecoin (LTC) is currently traded on exchanges like Binance, Coinbase, OKX, BKEX, and Bybit.

What is Litecoin (LTC)?

One of the first cryptocurrencies to enter the market after Bitcoin was Litecoin (LTC). LTC, a cryptocurrency modelled after Bitcoin, was introduced in 2011.

Charlie Lee, the man behind Litecoin, describes it as “the silver to Bitcoin’s gold.” The Litecoin blockchain uses the proof-of-work (PoW) consensus algorithm, just like the Bitcoin blockchain does.

The supply limit, hashing algorithm, and transaction speed between Bitcoin and Litecoin are their three main distinctions. The fixed supply for LTC is 84 million, which is more than the 21 million total supply for Bitcoin.

Litecoin (LTC) Price Prediction 2022

Litecoin holds the 12th position on CoinMarketCap at the writing time.

Below is the LTC price prediction 2022:

The horizontal channel pattern was shown on the Litecoin (LTC) chart above. The sideways trend is another name for the horizontal channel.

Typically, the price consolidation is when the horizontal channel forms. The lower trendline, which connects the lows, and the upper trendline, which connects the highs, run horizontally parallel in this pattern, which is where the price action is contained.

As the buying and selling points are consolidating, a horizontal channel is frequently regarded as one of the effective patterns for timing the market.

Litecoin (LTC) is currently trading around $77.33. The price of LTC may hit the resistance levels of $63.56, $85.32, and $135.84 if the pattern holds. If the trend changes, LTC’s price could drop to $47.17.

Litecoin Support and Resistance Levels

The graph below the support and resistance levels of LTC.

We can clearly interpret the following as the resistance and support levels for Litecoin from the aforementioned daily time frame.

According to the charts, Litecoin (LTC) has recently displayed a bullish trend. If this pattern holds, LTC may cross over its resistance level at $134.95 by advancing with the bulls.

Therefore, Litecoin’s (LTC) price could fall to almost $40.42 if investors start to lose interest in cryptocurrencies, which would be a bearish sign.

LTC Price Prediction 2022 Via RVOL, MA, and RSI

The graph below displays Litecoin’s (LTC) Relative Volume (RVOL). It serves as a gauge of how the previous trading volume has changed over time in comparison to the current trading volume. Current weak participants in the trend are indicated by the RVOL of LTC, which is below the cutoff line.

The chart above also displays the Litecoin (LTC) Moving Average or MA. Notably, the price of LTC is in an uptrend because it is above the 50 MA (short-term). LTC is currently in a bullish state. As a result, a LTC trend reversal could happen at any time.

The LTC’s relative strength index or RSI is 74.12 at this time. This indicates that Litecoin (LTC) is currently overbought. This suggests that LTC’s price may significantly reverse in the coming days. Therefore, traders must trade cautiously.

Litecoin Price Prediction 2022 Via ADX, RVI

Now let’s examine Litecoin’s Average Directional Index (ADX). In addition, it helps in determining the trend’s overall strength. The indicator is the mean of values within an expanding price range.

This system tries to gauge how strongly prices move in both positive and negative directions.

The ADX of Litecoin can be seen in the graph above (LTC). LTC’s ADX is currently in the range of 9.94, which denotes a weak trend.

Additionally shown in the graph above is Litecoin’s Relative Volatility Index (RVI) (LTC). The constant deviation of price changes over time is what the RVI gauges.

LTC’s RVI is above 50, which indicates high volatility. Actually, Litecoin’s (LTC) RSI is at 74.12, confirming a possible sell signal.

LTC Price Prediction 2023

Litecoin (LTC) could likely reach $150 by 2023 if the price decline completely slows down and the trend reverses.

Litecoin Price Prediction 2024

A number of network upgrades could cause Litecoin (LTC) to move in a bullish direction. LTC may rise to $150 by 2024 if the coin attracts the interest of significant investors.

LTC Price Prediction 2025

For the next three years, investors will continue to view Litecoin (LTC) as a superior investment option, and if major resistance levels are maintained, LTC will rise to a price of $200.

Bottom Line

We can say that 2022 is a good year for LTC because the Litecoin network is constantly getting better. Because of this, $134.95 is the bullish price forecast for Litecoin (LTC) in 2022. On the other hand, $40.42 is the bearish price forecast for Litecoin (LTC) for 2022.

Furthermore, LTC’s performance would support a very rapid rise above its current all-time high (ATH) of $410.26 thanks to improvements and advancements made to the Litecoin ecosystem.

However, if investors think LTC is a wise investment in 2022, it might also reach $90.

FAQ

1. What is Litecoin (LTC)?

One of the first cryptocurrencies to be released in 2011 after Bitcoin was Litecoin (LTC). It uses a proof-of-work (PoW) consensus model to operate. “The silver to Bitcoin’s gold” is Litecoin (LTC).

2. Where can you purchase Litecoin (LTC)?

Numerous cryptocurrency exchanges, such as Binance, Coinbase Exchange, OKX, BKEX, and Bybit, have listed Litecoin (LTC).

3. What is the current all-time high (ATH) of Litecoin (LTC)?

Litecoin (LTC) hit an all-time high (ATH) of $410.26 on May 10, 2021.

4. Is Litecoin (LTC) a good investment in 2022?

One of the top-gaining cryptocurrencies this year appears to be Litecoin (LTC). In light of Litecoin’s recent successes, LTC is regarded as a promising investment for the year 2022.

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