Litecoin Price May Fall As Low As $50 Before The Bulls Take Full Control Of The Market According To Litecoin Technical Analysis

The Litecoin bulls have run out of steam. After several Litecoin predictions 2019 on various cryptocurrency news outlets placed the price of Litecoin at higher highs in April, the cryptocurrency started falling against the USD along with its big brother, Bitcoin and the wider market. After surging above $90 in the first week of April, the price of LTC has been on a steady decline against the USD. According to a Litecoin price prediction on U°Today, the price of Litecoin may move as low as $50 before the bulls can gather enough momentum for a surge. What do you think? Will Litecoin recover after moving as low as $50?

Litecoin Predictions 2019 – Litecoin News Today – Litecoin Price Predictions 2019 – The Digital Silver Continues To Decline

Months before the Litecoin halving, the price of LTC was bullish against the USD. One of our Litecoin price predictions 2019 placed the price of Litecoin as high as $650 by the end of May. Considering the fact that we are now in the last week of April and the price of Litecoin is not even above $100, the chances of the $650 Litecoin price prediction happening are low.

Litecoin (LTC) Price Today – LTC / USD

Name Price24H (%)
Litecoin (LTC)
$87.11
-4.24%

The analyst on U°Today noted that cryptocurrencies tend to repeat cycles and the price of Litecoin appears to be repeating the cycle that took it to its all time low of about $20. To be fair, the current downtrend isn’t limited to the digital silver alone. The wider market is also suffering against the USD. However, it is important to note that at the time of writing, the price of LTC was in red while other cryptocurrencies were green against the USD.

Litecoin typically follows the Kondratiev wave. What this means is that there will a price surge but the price would have to drop significantly before it can surge. If this is correct, the price of Litecoin will need a strong correction to the $50 level to gather enough momentum to surge significantly against the USD. The good news is that it is still going to surge higher after it touches the $50 level so high risk traders can wait until then to buy.

Litecoin Price Predictions – Litecoin News Today – Current Price Of Litecoin – LTC/USD

At the time of writing, the price of Litecoin was $70.34. It is down by 2.74% against the USD and LTC/BTC down by 3.41%. The trading volume over a 24 hour period is $2,102,538,467 and the market capitalization is $4,328,727,196. Right now, Bitcoin is trading at $5,293.83. It is up by 0.69% against the USD. The trading volume over a 24 hour period is $12,492,003,557 and the market capitalization is $93,541,767,535. The entire market is struggling to recover from the hit it recently suffered due to the Tether-Bitfinex scandal started. Hopefully, things will get better in the coming week.

What do you think about the $50 and $650 Litecoin price predictions in our Litecoin news today? Will the price of Litecoin (LTC rise or fall against the USD short-term? Share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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