LTC / USD quotes are traded at 180.30 and continue to move within the growth and ascending channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $ 12,114,275,760. Moving averages indicate a short-term bullish trend for Litecoin. Prices are testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 165.95 area. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 220.55.
Litecoin Forecast and Forecast for February 11, 2021
A test of the trend line on the relative strength index (RSI) will be in favor of raising the LTC / USD quotes. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the rise option will be a fall in the value of the asset and a breakdown of the 150.55 area. This will indicate a breakdown of the support area and an acceleration in the fall of the cryptocurrency rate with a potential target below 120.55. With the breakdown of the resistance area and closing of quotations above the level of 205.05, we should expect confirmation of the development of a bullish trend in Litecoin.
Thus, Litecoin cryptocurrency forecast for February 11, 2021 suggests an attempt to correct and test the support area near the level of 165.95. Where can we expect a rebound and continued growth in LTC / USD to the area above the level of 220.55. An additional signal in favor of Litecoin’s rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 150.55 area. This will indicate a continued decline in cryptocurrency with a target below 120.55.
Litecoin price analysis
Despite the fact that prices for cryptocurrencies did not rise until around October 2020, Litecoin performed quite well compared to its competitors. Charlie Lee is clearly doing well; finally, he introduced Confidential Transactions (CT). Like ZCash and Monero confidential coins, LTC confidential transactions will prevent replacement, scalability and privacy issues.
Most recently, you might have seen the Litecoin logo on a wrestling mat during a UFC tournament. In addition, an ATM machine has been installed in a new shopping center in Singapore, which accepts both Bitcoins and Litecoins. The Litecoin price prediction, according to experts, is very optimistic.
Experts expect a bright future for Litecoin in 2021 through integrations and partnerships. In addition, the Litecoin community is actively developing projects. Litecoin has clear potential for further growth and is definitely a serious competitor for other cryptocurrencies.
If Litecoin manages to exceed its current price and hold out in the long term, it will retest its all-time high. The highest LTCUSD rate is likely to remain below $ 300 for most of next year. What does Litecoin have in the next 5 years?
Litecoin price prediction from experts
The crypto market is highly volatile, which means that predicting the price of cryptocurrencies is one of the most challenging tasks. Let’s take a look at the experts’ recent predictions regarding LTC. They can give us food for thought about LTC:
Trading Beasts analysts predict that LTC could reach around $ 47 by the end of 2020 and add that this is very favorable for long-term investments. We now know that LTC closed on December 31, 2020 at $ 126.23 (on Coinmarketcap) and this is much higher than anticipated!
Wallet Investor experts have always made conservative forecasts. This time is no exception. They stated that LTC could reach $ 22.95 by the end of 2020. We assume that no one expected the huge rise in BTC.
According to published research by Long Forecast, Litecoin’s price was supposed to hit $ 55 by the end of 2020. Their prediction is slightly more optimistic than the previous two, but they still underestimated Litecoin.
CoinPrice analysts predicted that Litecoin could reach $ 124 by 2020. This is the most optimistic of all the predictions presented, but CoinPrice insisted on it and it turned out to be the most accurate!
Lately, Litecoin has been following a “flag” pattern. On January 3, after hitting the $ 160 mark, the cryptocurrency had two bearish days, and its rate fell to about $ 150. Let’s see what happens behind the scenes.
LTC price formed three “flags” in a row, which doubled it from $ 80 to $ 160. If Litecoin consolidates after the formation of the flagpole and the flag, its price could reach $ 185. If the RSI breaks through the overbought zone, its price will fall.
As you can see in the 4 hours chart below, the MACD started to rise, as did the Parabolic SAR. This shows that the market is currently experiencing a downtrend. Further drop is expected. Thus, the 20-period SMA will allow us to understand whether the price will be able to keep the current level.
LTC price prediction is based on the fact that it is the fifth largest cryptocurrency in the world by capitalization. With low transaction costs and fast confirmation times, LTC is truly emerging as the new global payment standard for users and businesses around the world. Litecoin has shown traders that costs can be lower than they are used to. For example, transaction processing fees are much less than with credit cards and other forms of payment. Even the integration is free!
As Litecoin steadily gains popularity, the number of organizations accepting it for payment may also increase. We project the price to rise to around $ 900 in 2022 and 2023.
The third Litecoin halving is due in 2023. At the same time, the block reward will be halved, to 6.25 LTC. This encourages Litecoin fans to trade and invest as halving causes the currency’s value to rise. Litecoin may even surpass its competitors and become one of the most traded cryptocurrencies.
Thus, the forecast for the Litecoin price by 2025-2030 is that its value could reach $ 1200. Please note that these long-term price forecasts are indicative only.
How has Litecoin price changed over time?
Today LTC is trading at $ 181.94. In the current CoinMarketCap ranking, Litecoin is ranked 5th with a market cap of $ 9,957,064,586 (as of January 3, 2021). There are 66,230,155 LTC in circulation, with a maximum supply of 84,000,000 LTC coins. Litecoin price reached an all-time high of $ 375.29 on December 19, 2017. But in order to make the most reliable predictions, it is important to consider the previous price characteristics of Litecoin. Below you will see how the price of Litecoin has changed over the years: