The cryptocurrency market seems to be recovering gradually after a dip that saw the price of Bitcoin (BTC) plunge toward the $7k level. Bitcoin (BTC) and the rest of the cryptos in the market recently surged higher, with most coins testing new yearly highs. Litecoin (LTC) was also carried along in the rally. The price of Litecoin surged heavily, adding to its already impressive price action this year. The increase in the price of Litecoin (LTC) also helped to break over the Litecoin price prediction of $100.
Litecoin Price Tested Eleven-Month High – Can the Price of Litecoin Break Over that Level in the Short-Term
The price of Litecoin hit three digits across several digital currency trading platforms. This bullish Litecoin news lured many digital asset investors to the coin, and the daily trading volume of Litecoin also skyrocketed. The last time Litecoin (LTC) saw three digits figures was on the 12th of June last year when it jumped to $107. This means over the past 11 months, the price of Litecoin (LTC) has not hit that level. So the recent Litecoin price rally helped the coin to hit an eleven-month high.
Litecoin (LTC) Price Today – LTC / USD
Litecoin is one of the most promising crypto projects in the crypto space. The blockchain project has faced several storms, and it is still here, occupying the 6th position on the list of top digital currencies. The price of Bitcoin (BTC) is also recovering gradually. The recent crypto bull run started with Bitcoin (BTC) – the most dominant and largest digital currency by market cap, according to CoinMarketCap. The digital currency is now trading slightly over the $8,000 level, after plunging towards the $7k level. The price of Bitcoin (BTC) even plunged to as low as $6,800 on some trading platforms. However, BTC USD price is now back in the green, with an increase of more than two percent over the past twenty-four hours.
Bitcoin (BTC) and Litecoin (LTC) are not the only digital currencies in this price rally. Other digital currencies such as Bitcoin Cash (BCH), EOS, XRP, Ethereum (ETH), and others are also recording gains. The price of XRP is now over the 40 cents level. Ethereum (ETH) is still trading over the $250 level, while Bitcoin Cash (BCH) price is over the $410 mark.
Litecoin Price Analysis – Litecoin Price Forecast – Litecoin Price Prediction – Litecoin News Today – LTC USD Price
After trading over the $100 mark, the price of Litecoin had a major downward correction. LTC USD price plunged deeply and broke below the $100 and $90 levels. The price of Litecoin was heading towards the $80 level before the bulls took over again. The bulls showed up when LTC USD price was close to the $84 support level. LTC USD traded as low as $84 and stayed over the 100 SMA. Thanks to the bulls, the price of Litecoin started another sharp rally. The rally saw the price of Litecoin break over the $87 and $90 resistance levels. At the press time, the LTC USD Live price is $92.5 after an increase of about one percent over the past day.
At the moment, Litecoin price is supported at the $90 mark. The immediate hurdle of the digital currency is $95. A break over this level will pave the way for more gains towards and over the $100 mark – short-term Litecoin price forecast.