Months before the Litecoin halving, the price of LTC was bullish against the USD. 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 the latest 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.
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. 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.
Litecoin (LTC) Price Predictions 2019
Litecoin (LTC) Price Today – LTC / USD
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.
Litecoin (LTC) News – Litecoin Price Analysis Today
According to the latest Litecoin analysis on bitcoinexchangeguide; April 29, the price of Litecoin made a further depreciation. In retrospect, the crypto’s price had been on a downward fall after the $96 resistance level on April 6. Yesterday, the crypto’s price fell to a low at $66.55. On the downside, the crypto’s price will further depreciate to a low at $60, if the bearish trend line is unbroken. But today Litecoin made some correction and came to $70.
The crypto’s price is below the EMAs which indicate that price is in the bearish trend zone. If the bulls break the EMAs and price is sustained above the EMAs, the crypto’s price would rise. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The LTC price is above the EMAs which indicate that price is in the bullish trend zone.
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