- In the world of cryptocurrencies, Litecoin LTC stands as one of the pioneering digital currencies that have paved the way for numerous altcoins and was created by Charlie Lee in 2011.
- Litecoin shares several similarities with Bitcoin but has unique features, making it an important player in the crypto market.
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LTC Crypto Current Price Analysis
- The price of Litecoin has decreased by 1.56% in the last 24 hours, closing at USD 61.15. The cryptocurrency’s market capitalization has decreased by USD 4.510.204.671.70.
- Resulting in a total market capitalization of USD 4.7 billion. Litecoin has experienced a year-to-year decrease of 13.02%.
- The price of Litecoin has surged in the last week, going from $62 to $66.80 and then $66.80 again last week.
In a weekly time frame, the price is getting rejected from the resistance trendline of the symmetrical triangle. Currently, the price is moving above the support trendline. A bounce is expected from here. we have to wait for a successful breakout or breakdown.
LTC News
The Litecoin network just announced that they’ve mined 180 million coins, making it the biggest transaction ever. That means they still have 5.5 million coins left before the half-block cut-off. At the current rate of 3600 Litecoins per day, the next cut-off block will happen around the middle of 2027. Great to have so much predictability in the money supply!
Beyond 2023: What Awaits Litecoin in the Coming Years, The Silver to Bitcoin’s Gold
- In a weekly time frame, the price is rejected from the resistance trendline of the symmetrical triangle.
- Currently, the price is moving above the support trendline. A bounce is expected from here we have to wait for a successful breakout
- Nearest Support Zone is $60, then $50. The nearest Resistance Zone is $69, then $75.
- The MACD indicator is below the MACD signal line, and the RSI indicator is below 45, indicating a bearish trend.
- LTC has broken out of a channel-down pattern and is consolidating into a sideways channel ($60-70).
- The technical indicators suggest that the market sentiment towards Litecoin is bearish, with a market share of 0%. The Fear & Greedy Index is currently reading 47 (neutral), indicating that the market sentiment is bearish.
- In the last year, it also went up 18.5%. So, if you want to get in on the action, you should check out Litecoin. The price prediction for 2023 says it could go up to $105.
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Conclusion
Litecoin, the ‘Lite’ version of Bitcoin, has been around for more than nine years and is still one of the top 20 cryptocurrencies in terms of market cap. Litecoin (LTC) continues to be a prominent cryptocurrency in the digital asset space. While its recent price analysis shows some fluctuations and potential challenges, it remains an essential player in the world of cryptocurrencies, offering unique features and benefits to its users. It’s essential to keep an eye on its price trends and developments in the crypto market as Litecoin’s future evolution unfolds.
