In Litecoin (LTC) price prediction 2023, 2024-2030, we will analyze the price patterns of LTC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Litecoin (LTC) Current Market Status
Litecoin 24H Technicals
(Source: TradingView)
Litecoin (LTC) Price Prediction 2023
Litecoin (LTC) ranks 18th on CoinMarketCap in terms of its market capitalization. The overview of the Litecoin price prediction for 2023 is explained below with a daily time frame.
LTC/USDT Ascending Channel Pattern (Source: TradingView)
In the above chart, Litecoin (LTC) laid out an ascending channel pattern. An ascending channel is the price action contained between upward-sloping parallel lines. Higher highs and higher lows characterize this price pattern. An ascending channel is used to show an uptrend in a security’s price. Ascending channels are short-term bullish in that a stock moves higher within an ascending channel, but these patterns often form within longer-term downtrends as continuation patterns.
At the time of analysis, the price of Litecoin (LTC) was recorded at $68.62. If the pattern trend continues, then the price of LTC might reach the resistance levels of $80.20, and $111.96. If the trend reverses, then the price of LTC may fall to the support of $65.39 & $57.58.
Litecoin (LTC) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Litecoin (LTC) in 2023.
LTC/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Litecoin (LTC) for 2023.
LTC Resistance & Support Levels
Litecoin (LTC) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Litecoin (LTC) are shown in the chart below.
LTC/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Litecoin (LTC) market in 2023.
Litecoin (LTC) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Litecoin (LTC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
LTC/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Litecoin (LTC).
Comparison of LTC with BTC, ETH
Let us now compare the price movements of Litecoin (LTC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs LTC Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of LTC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of LTC also increases or decreases respectively.
Litecoin (LTC) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Litecoin (LTC) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Litecoin (LTC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Litecoin (LTC) price prediction for 2023 is $75 to $95.17. Comparatively, if unfavorable sentiment is triggered, the bearish Litecoin (LTC) price prediction for 2023 is $56.22.
If the market momentum and investors’ sentiment positively elevate, then Litecoin (LTC) might hit $150. Furthermore, with future upgrades and advancements in the Litecoin ecosystem, LTC might surpass its current all-time high (ATH) of $412.96 and mark its new ATH.
This content was originally published by our partners at The News Crypto.