In a period that has seen a short-lived crypto bull run, Litecoin price has managed to experience a positive price action in the first three months of this year. It is essential to note that despite been down by 3.86% at press time, LTC has reportedly tripled its price since December of last year.
When the crypto industry was enduring the longest bear season in history, Litecoin (LTC) initiated an upward price movement and began to surge upwards leaving other digital currencies behind. Since the start of this year, Litecoin has gained about 91.91% from $30.46 the year before, according to CoinMarketCap. This metric represents a 200% price increase since the creation of the coin making Litecoin (LTC) the best performing top six crypto in the first three months of this year.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction 2019: Recent Developments in Litecoin (LTC) That Led to its Current Crypto Bull Run
Experts believe five factors have pushed the price of Litecoin higher and they include:
- More merchants have begun to accept payments in LTC
- Steadily reducing fees
- Faster transaction times
- The promise of private transactions in the future
- LTC’s anticipated halving by August this year
Despite its earlier vigor since the turn of the year, Litecoin is reportedly bearish on the medium term and short term. How low will Litecoin go?
Litecoin Price Prediction 2019: How Low Will Litecoin Go in Medium-term?
Last week Litecoin’s price had a breakout. As of April 2, bullish momentum made it break the $62 resistance. The bulls reached $95.41 but were eventually resisted. The bulls weren’t able to progress further because of the $96 resistance. The price fell back to the 12-day EMA before resuming another bullish pattern. On April 6, the pair tested $96.
The price is now retracing to the 12-day EMA support. On the upside, should the 12-day EMA hold, Litecoin’s price will rise above $96. Looking at the downside, if the bearish sentiment breaks the EMAs below, the price of LTC will likely fall to $81 or $87. Meanwhile, the signal line and MACD line are ahead of the zero line, which is a strong indication of a buying signal. LTC’s price is above both EMAs indicates that its price is bullish.
Litecoin Price Prediction 2019: How Low Will Litecoin Go in the Short-term?
Via the 1-hour chart, Litecoin’s price is in bearish territory. Last week, the pair tested the $96 level which is a resistance position to break it. The bulls haven’t successfully broken the position. Every time the bulls test this resistance level, the LTC price would fall back to the 12-day EMA.
For today, the bulls have already attempted to break through the $96 resistance region. The MACD and signal lines are below the zero line indicating that there’s a sell signal. LTC’s price is below both EMAs indicating that price is bearish for now. As of press time according to data given by CoinMarketCap, Litecoin (LTC) was trading at $89.99. The digital asset is down by 3.86% with a market cap of $5,511,568,021 and trade volume of $3,296,327,239. If you