According to Livecoinwatch, Litecoin has had a rough day. Many other top cryptocurrencies are also in the red. Litecoin price prediction 2019 are still quite optimistic. As can be observed the digital asset has been climbing higher in recent months. This, in turn, has signaled that Litecoin (LTC) is one of the first gainers of the recent April 2 cryptocurrency bull run. From the metrics given in LTC price in recent months, will Litecoin recover from this current dip?
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction 2019: Will Litecoin Go Back Up?
The Litecoin protocol initially showed promise but later went down during the extended bearish season. It eventually became a crypto that had almost been forgotten. However, recent signs have been positive for the digital asset. LTC is showing promise against the USD. This began back in February of this year when Litecoin (LTC) looked to show some measure of growth recording a 65% price gain that took above the 200D EMA. Since then, the digital asset has jaunted this position.
Since that moment to this day, Litecoin price has been steadily ascending and holding key resistance positions. As per data collected from CoinMarketCap, Litecoin (LTC) is currently trading at $80.24 against the USD having gained 2.23% in the last 24 hours. The coin has a market capitalization of $4,918,837,111 and trading volume of $3,102,171,517 as of press time.
Litecoin Price Prediction 2019: Will LTC Extend its Recover Going Forward?
In Q4 of last year, Litecoin’s price had significantly gone down as a result of a significant sell-off that made many investors exit the market at a loss.
At the time Litecoin (LTC) bulls tried in repeated attempts to force its price above $64 which was a resistance level, but the lack of volume was evident. And the factor that pushed the price down to $23 which appeared to hold and serve as support in the bear season.
Did Litecoin Bottom?
The start of February saw yet another attempt by Litecoin bulls to push the digital asset price higher. This created multiple lower highs. At the time it forced a convincing push above $64 which is a strong indication of bullish momentum.
Litecoin found resistance at $100 which it failed to break. $78 was a support position at the time. Should we anticipate another retest of $100? It’s a possibility. Time will tell.
Litecoin Price Prediction 2019: Litecoin (LTC) Current Trendline
Litecoin’s current trendline indicates that the digital asset is respecting the pattern as support and kept pushing higher since this position has been met. It is currently trading above the $80 price position. If this current upward trendline is upheld further, we should expect more gains in the medium term.
Clearly, LTC has made one of the most remarkable recoveries in the crypto space in recent years. We can remember Litecoin as a coin that was previously a first mover when its price surged. Going by historical patterns it is safe to say LTC could be once again one of the first digital assets to surge higher. With this in mind, LTC price getting to the $100 barrier in coming weeks is feasible. The potential of the coin shouldn’t be overlooked as it has shown tremendous growth since bouncing back in February of this year.