Is it too late to buy Litecoin? Crypto experts give their predictions about LTC

Litecoin-LTC price stagnated, maintaining relative stability during the past 24 hours, despite the rise in the currency during the month of November. Some experts believe that LTC may have bottomed out and is poised to reclaim the $70 price, or it may go beyond that to $100.

The competition is currently raging between “bulls” and “bears” to control the direction of the market, and Litecoin is currently trading at $65.41 with a market value of $4.7 billion, making it the fourteenth rank among digital currencies in terms of market capitalization. It should be noted that this market value has decreased from the value of $ 11.33 billion achieved at the beginning of the year, when Litecoin was trading at a price of $ 163.

How did Litecoin price perform in 2022?

The general trend of Litecoin (LTC) price trading has maintained its downward trend since last January; The bear market in 2022 had a significant impact on LTC coin, causing its value to plummet to a low of around $40.00 in the month of June.

Despite LTC’s slight recovery following the crash of Terra (LUNA) coin, it struggled before it was able to recently breach the resistance at $65.00. The price of Litecoin, like many other currencies, fell after the collapse of the FTX platform.

After the decline witnessed by the Litecoin currency during the past periods, its price began to recover to rise above the $65 area, which allowed the “bulls” to push the price once again to rise to $80. On December 3, LTC reached a seven-month high of $84.96, depriving many reluctant investors from making profits.

Despite LTC’s impressive performance during NovemberHowever, it was unable to maintain that bullish trend after the US Federal Reserve raised interest rates by 0.5% on Wednesday of last week.

Litecoin Price Forecast: Will it hold the $65 support?

Based on the chart below, it appears that there is a bullish trend that might be building to drive the LTC price higher. This bullish move kicked off with LTC price bouncing higher from the support level at $40, and was followed by the first major breakout when the “bulls” managed to clear the resistance at $52 and break through the lower line of the trend.

Traders who have long positions just above this trend line may see their trades turn profitable at a potential sell point of $70, as we can see from the 200-day exponential moving average (EMA).

The second bullish confirmation for LTC price appeared when the price bounced from the same descending lower line to breach the middle trend line at $66.64 in November; This bullish momentum has continued until recently, but the pressure opposite to this upward movement has weakened that momentum..

LTC/USD daily chart
LTC/USD daily chart

Although many believe that it is too late now to buy Litecoin, the support level formed in the middle of the downtrend line may represent a suitable buying point; However, traders should wait for a confirmed break above the 100-day EMA (marked in blue) at $65.25.

It is worth noting that the famous analyst and cryptocurrency trader, AltcoinSherpa, has posted to his 187,800 Twitter followers that LTC may have reached a temporary price bottom; But he made it clear that the support it received at $65 was crucial to resume the bullish trend until it reached $70 at the very least.

Advance sale offers that bring investors quick returns and gains

Predicting price action in the cryptocurrency market is always uncertain, especially with recent events such as the collapse of FTX and the questionable financial condition of the largest cryptocurrency exchange by daily turnover, Binance.

Investors aspiring to achieve wealth and success should read some new coins during a pre-sale offer. The currencies mentioned below have strong financial and technical fundamentals and could change the face of the crypto world.

FightOut (FGHT) Fitness Project

Project FightOut It is a move-to-earn fitness app running on the Ethereum blockchain that seeks to integrate real-life workouts with the world of Web3. The application is based on the foundations laid down by the M2E projects that preceded it, as it grants rewards for a variety of exercises such as boxing, weightlifting and yoga, in addition to the training courses it also offers, whether within the application itself or in a realistic way in real life.

The project launched a pre-sale offer for its FGHT coin last week Already raised over $2.2 millionCurrently, 60.06 currencies can be purchased for $1.

Visit FightOut now

Dash 2 Trade platform

platform operates Dash 2 Trade It is also on the Ethereum blockchain, which is an AI-based trading platform that provides investors with constantly updated analytics and social trading data, helping them stay up-to-date on the cryptocurrency market and build their portfolios in a way that is built on reliable information.

He was able to offer the platform’s D2T pre-sale Raised over $10.3 millionIt is now in its final stage. The platform also announced the inclusion of its currency for trading on the BitMart, Changelly Pro and LBANK platforms in early 2023, and the start date was set for January 11th.

Visit the Dash 2 Trade website now

C+Charge Project (CCHG)

Project C+Charge – which runs on the Binance Chain and is based on a peer-to-peer payment model – provides a new way to make payments to electric vehicle (EV) charging stations, with the aim of facilitating access to carbon credits. The project has launched a pre-sale offer of its CCHG coin, which will be used within the system’s network for EV owners to pay for charging their vehicles.

One of the interesting features of the C+Charge project is that it will give users carbon credits as a reward when charging their electric cars at its stations, and the carbon credits will be in the form of the platform’s GNT (Goodness Nature Token), which is a currency that represents a voluntary and verified carbon credit. The project is supported by a16z Crypto, Samsung Next, and Invesco.

Visit the C + Charge website now

Leave a Comment