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litecoin price prediction
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If you want to invest in LTC successfully, then you should pay more attention to the Litecoin price prediction. That’s why we have prepared for you a detailed price analysis of one of the well-known altcoins on the market.

Litecoin (LTC) Overview

Litecoin is the 8th largest cryptocurrency according to Coin Market Cap. It is one of Bitcoin’s several forks and is designed to provide faster and cheaper transactions than Bitcoin. The Founder, Charlie Lee, is an early crypto adapter and also a strong voice in the cryptocurrency industry. He heads the Litecoin Foundation, which is the primary overseer of Litecoin.

Litecoin has grown to become very popular for micro transactions because of its low fees and small block time of 2.5 minutes, which is one-quarter of Bitcoin’s 10 minutes. There are currently thousands of merchants who accept Litecoin as payment because of these characteristics, which are improvements on Bitcoin’s features.

At the moment, Litecoin has a market cap of $11,113,146,970 and a circulating supply of 66,449,067 LTC. $10,182,833,242 worth of LTC have been traded in the last 24 hours.

Litecoin (LTC) Price Prediction: Analysis

The year 2021 has been good for Litecoin. After entering January at $124, the cryptocurrency started rising almost immediately and got to a yearly high of over $175 on 10 January. It, however, dipped to $119 the next day and has been trading below $160 since then. This served as consolidation with a tightening range until a slight breakout occurred that may be unsustainable.

The daily LTC/USD chart shows that a death cross may be underway between the 20 MA and the 50MA. If this happens, there may be a trend reversal to the downward side, marking the beginning of a bear market in the short-term. The trading volume also shows that the breakout was quite weak, which makes it possible for the trend to easily reverse.

The RSI has also shown weakness as it was rejected at 60 and fell back down. It is currently at 57.63 and attempting to go up again, but the moving averages seem to suggest that the possibility of a higher level is slim, especially because of the low volume.

Walletinvestor has calculated key resistance and support levels for traders on LTC to watch when making trading decisions as follows:

  • Resistance Level (R3): 170.154;
  • Resistance Level (R2): 164.122;
  • Resistance Level (R1): 154.821;
  • Pivot Point: 148.789;
  • Support Level (S1): 139.488;
  • Support Level (S2): 133.456;
  • Support Level (S3): 124.155.

Developments

There are no recent developments on Litecoin, but you can follow some cryptocurrency price prediction sites to keep up to date with the evolution of this digital asset.

Litecoin (LTC) Price Prediction: Market Opinion for February 2021

The following are Litecoin price predictions from various price prediction websites. You can use them to guide your decision on investing in Litecoin in February.

Walletinvestor

The minimum expected price for Litecoin for the next 14 days, according to Walletinvestor, is $124.383, while the maximum price expected during this period is $163.051. Below are the daily predictions for the next 14 days:

DatePriceMin PriceMax Price
2021-02-10 161.234 149.789 172.621
2021-02-11 161.499 150.083 172.668
2021-02-12 163.029 152.044 175.333
2021-02-13 163.895 152.632 175.551
2021-02-14 160.978 149.628 172.486
2021-02-15 164.206 153.185 175.404
2021-02-16 168.888 157.391 180.217
2021-02-17 163.387 152.384 173.949
2021-02-18 163.651 152.300 175.596
2021-02-19 165.181 153.463 176.373
2021-02-20 166.047 154.541 176.469
2021-02-21 163.130 150.761 174.962
2021-02-22 166.358 155.273 177.861
2021-02-23 171.040 159.367 183.316

Longforecast

Longforecast‘s LTC price prediction is that it will have a minimum price of $127 and a maximum price of $185 for February.

Digitalcoinprice

This website predicts that the average price of Litecoin in February will be $261.66.

30rates

This website forecasts that Litecoin price will reach a maximum of $185.2 and a minimum of $128.2 in February 2021. Below is a table with LTC price prediction for the remaining days of February.

DateWeekdayMinMaxPrice
02/10Wednesday$173.1$199.1$186.1
02/11Thursday$167.7$192.9$180.3
02/12Friday$167.6$192.8$180.2
02/15Monday$177.9$204.7$191.3
02/16Tuesday$166.7$191.7$179.2
02/17Wednesday$174.7$201.1$187.9
02/18Thursday$194.6$224.0$209.3
02/19Friday$205.5$236.5$221.0
02/22Monday$197.9$227.7$212.8
02/23Tuesday$195.9$225.3$210.6
02/24Wednesday$188.8$217.2$203.0
02/25Thursday$209.3$240.8$225.0
02/26Friday$195.1$224.5$209.8

Litecoin (LTC) Price Prediction: Verdict

This Litecoin price prediction and analysis suggests that some analysts are bullish on the cryptocurrency. However, there is a tendency that the price may enter a bearish trend unless buyers step in. If you want to invest for profits, you may need to wait and see what happens in the next couple of days before decoding.

Featured image: cryptonomist.ch

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Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.