Litecoin (LTC) Price Predictions: What Do Experts Say? - COINTURK NEWS
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Litecoin (LTC) Price Predictions: What Do Experts Say?

9:19 pm (16 days ago)
November 16, 2023

The macro front is currently on track, and strong data indicating that inflation continues to decline has been released. Under normal circumstances, after this week’s data, cryptocurrencies should have aimed to quickly target the cumulative value resistance of $1.5 trillion. However, profit-taking suppressed the expected rise in BTC and altcoins. So, what are the predictions for LTC?

Expert Opinions on Litecoin (LTC)

After the halving, the LTC price faced a decline as indicated by historical data but is now trading above $70 again. The price confirmed $56 as support in August and did not stay below the $60 range for long. This was an important development in terms of long-term investor motivation.

Since then, the LTC price has gradually increased. It accelerated the rate of increase in October and broke away from the trend line last week. The RSI is above 50, confirming the continuation of the upward trend. So, what do market experts think about this?

SantoXBT says the price will be around $150-200 by the end of the year. Although it seems ambitious, the ongoing increase in BTC price could support this scenario. Analyst Shan Belew said the following:

“Litecoin continues to be one of the best crypto networks in terms of maximum potential in price compared to network value. If the peak of the next Bitcoin cycle is December 2025, there are 24 months left.”

ChrisOnCrypto shares the same opinion. He says that LTC is currently undervalued and predicts that new peaks will be seen in January.

LTC Price Predictions

The breakthrough in long-term upward movement is promising. Firstly, the LTC price broke away from the short-term descending resistance trend line and reclaimed the $70 level. The hidden bullish divergence in RSI also indicates that the trend is continuing upwards. If the price continues as expected, it could pause at $93. The next target would be $105.

To invalidate the bullish prediction, there needs to be closures below $70. If the price breaks the long-term uptrend setup, the decline could deepen towards $60 and $56.

Disclaimer: The information provided in this article is not investment advice. Investors should be aware that cryptocurrencies carry high volatility and risk, and should conduct their own research before making any transactions.

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