Litecoin (LTC) Price Primed To Reach $84 in the Short-Term

For our Litecoin news today, it is safe to say the price of Litecoin has been marching upwards in recent days particularly in the last 24 hours. The Litecoin USD live price as of April 29 reached $73.20. Attaining this price level signaled a return to trading above grounds the position where the price of Litecoin stood in the last two days before going higher on April 29.

From the Litecoin price forecast, it is clear that if the recovering sentiment regarding the price of LTC continues to hold, or the optimistic predictions stay on track, many are expecting that a strong break is set on stone for Bitcoin. The next resistance positions are $80.00 and $82.50 respectively. Conversely, a downside price action below $67.00 may push the price of Litecoin towards $62.00 and $60.00 in coming days.

Litecoin Price Prediction: Traders are Optimistic About the Price of Litecoin Following 7% Gain in the Last 24 Hours

After last night’s craziness in the altcoin space, the price of Litecoin managed to gain 7%. This has made the majority of traders optimistic about the digital asset. They have come up with a new, positive Litecoin price forecast. What are the prospects of the price of Litecoin in the short term? Let’s see below.

Litecoin Price Prediction: The Price of Litecoin Is Expected to Reach $80 in the Short-term

The price of altcoins have been weak in the past weeks when compared to the price of Bitcoin. This scenario isn’t a good sign for altcoins in the mid/long term. The price of Litecoin has been moving upward of a support line. This doesn’t remind us about a wedge or channel, however, we can only see that it has a support position. Candles shift most of the time in the market, which is making it more difficult to trade on every support and resistance breaks.

For the price of Litecoin we don’t expect a big rally. However, we can expect to see a price rise to $80. Only time will reveal whether or not the price of LTC will stay above $62. Meaning another drop may happen, hence, if prices don’t drop below the green, this Litecoin price forecast could happen.

Litecoin Price Prediction: Support for the Price of Litecoin Can Be Seen At $55-$50

We can expect to continue finding support position at $55-$50. If there’s a drop in BTC, it would mean a drop in the price of LTC. Maybe we will be able to see a small wedge form. If this becomes the case, it will be ideal because we will have something straightforward to work with.

At the moment it is safe to say the price of Litecoin is now undervalued. Sellers should jump into the train while buyers, can see this as an excellent opportunity to start buying because the price of Litecoin will currently offer great value for long-term investments. We should expect to see great times in the future for the digital asset. According to data given by CoinMarketCap the price of Litecoin is $74.19. The digital asset has a market capitalization of $4,569,417,316, 24 hour trade volume of $2,673,571,057 and circulating supply of 61,591,908 LTC.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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