The price of Litecoin has been able to break key price resistance even after many people had given up on a recovery. At the time of writing, the price of Litecoin was $78.10. This means that it was up by 2.36% against the USD and up by 1.56% against the price of Bitcoin. The trading volume is $2,946,607,923 and the market capitalization is $4,910,375,642. The sellers that have been dominating the market for about two days now seem to be running out of steam. Litecoin is taking the lead in the recovery as it outperforms Bitcoin. This was after the bulls tried to cross the support at $75 and bounced back shortly after.
The relative strength index of Litecoin price of bulls territory. There is a key resistance at $100. If the price of Litecoin is able to break this resistance, it may surge even higher before the upcoming Litecoin halving. You’ll recall that the Litecoin halving has been predicted to lead to a surge in the price of LTC. The price action shows that the price of Litecoin is holding the current support and would push higher to $100 soon. Even if the price of Litecoin was red for the past two days, the cryptocurrency analyst on ZyCrypto insists that the price of Litecoin is still going to move higher against the USD.
The cryptocurrency winter ended in February and the cryptocurrency bulls took full control of the market toward the end of March when the price of cryptocurrencies started recovering against the USD and the price of Bitcoin crossed the $5000 for the first time since November. Even before the Bitcoin bull run, it is important to note that the Litecoin price prediction 2019 has been bullish since December. You see after the price of Litecoin hit a low of $20, it started recovering against the USD. Between then and the period of the Bitcoin bull run, the price of Litecoin was up by more than 200%. After all these, will Litecoin recover above $100?
Litecoin (LTC) News Today – Litecoin (LTC) Price Prediction 2019 – Will Litecoin Recover?
The simple answer to the question is yes. Litecoin will recover and is already recovering short-term. As soon as the price of Litecoin crosses $100, it would correct lower for a while and eventually continue moving higher. Litecoin price prediction long-term places LTC above $600 before the end of 2019. Considering the growth rate of Litecoin since December, hitting $600 may not be farfetched.
Litecoin (LTC) Will Target $110 – $120
According to the Coinnewstelegraph; during the Bitcoin bull rally earlier in the month, Litecoin and Bitcoin Cash led the altcoins to victory. Even when the price of Bitcoin started correcting lower, LTC and BCH were still soaring higher. On the 6th of April, the price of LTC reached a yearly high of $98.80 and found support at the $95 level. After a while, the price started falling lower until it broke the 12 day EMA and even lower to the 26 day EMA. The Litecoin price signal line, as well as the MACD line, are above the zero line. This shows that the buyers are in control of the market. Another evidence of the bullish pressure is that the price is above the 12 day EMA and the 26 day EMA.
Short-term, the bulls are starting to gather momentum against the USD. Litecoin (LTC) price is looking up. The analyst said that if the price of Litecoin is able to move above the resistance at $95, it will rise as high as $110 and even $120. On the other hand, if the price of Litecoin falls lower, it would risk falling below the $60 and $65 levels. The bears have formed resistances at $80, $90, $100. However, the bulls have formed strong support at $50, $60, and $70.
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