Litecoin’s Oncoming Block Reward Reduction Could Cause the Price of Litecoin to Rise Further, How High Can LTC Go

The price of Litecoin has experienced a steady rise since the beginning of the recent crypto upwards rally initiated by Bitcoin. Despite the positives for the price of Litecoin so far this year, volatility has always been an issue with the asset class just as its the case with most other digital assets. Now, it is clear that the price of Litecoin could be pushed upward in coming days thanks to the long-anticipated Litecoin block reward reduction. How has Litecoin price performed recently?

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$58.65

Litecoin Price Prediction: Bulls to Break $120 Before The Price of Litecoin Can Reach $127 – Litecoin Price Forecast

The price of Litecoin was trading at $114.36 as of press time according to CoinMarketCap. Litecoin is up by 0.06% in the last 24 hours with a market cap of $7,087,299,827. It also has a circulating supply of 61,971,401 LTC and daily trade volume of $5,845,534,745. For today’s Litecoin price forecast, in the event that the bulls break $120 (a resistance position), the LTC market is going to get to the $127 price position.

On the other hand, should the price of Litecoin remain restricted at $120, we can expect the market to fall to both EMAs and support position of the $112 price. The price of Litecoin found resistance at $120, $125, $130 and support at $110, $105, $100.

Litecoin Price Prediction: The Price of Litecoin is Bullish For the Medium-term Outlook – Litecoin Price Forecast

May 27, saw the price of Litecoin in bullish territory. On May 26, the bulls broke $104 which is the overhead resistance. The surge in volatility was continuing. The 12 and the 26-day EMAs are pointing northward. This indicates that the pattern is in an upward trend. The LTC/USD market has reached $120 which is currently a resistance level.

The price of Litecoin had earlier fallen to reach the 12-day EMA which acted as support. This is an indication that the price of Litecoin is likely going to rise. If the bulls should break $120 (a resistance position), the LTC/USD market will reach $127. On the other hand, should the price of Litecoin be restricted to $120, the LTC/USD market will fall to the EMAs or $112 both of which will act as support positions. Meanwhile, the MACD and signal lines are above the 6.0 level indicating that there is a buy signal.

Litecoin Price Prediction: The Price of Litecoin is Ranging in Short-term Outlook – Litecoin Price Forecast

Via the one hour chart highlighting trading for the LTC/USD pair, the price of Litecoin has been in a bullish trendline. The price of the cryptocurrency was recording a series of higher highs and lows before the pattern changed to a range bound trend. The market for LTC/USD is facing resistance at $117. This price level as resistance is one of the reasons why the market entered the range-bound pattern.

Per the charts, both the bullish and bearish candlesticks are moving above the EMAs. The reason for this is because of $117 (a resistance position). The price of Litecoin is expected to go higher the moment the bulls break the resistance position. The MACD and signal line is over the 2.0 line which shows a buy signal.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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