The price of Litecoin continues to climb as it approaches $150. The LTC/USD pair has gained more than 10% in the past 24 hours, and is testing a key support level of $140. If the price can break above $150, it could reach a new all-time high above $200.
Litecoin has been under pressure for the past few months, due to a lack of infrastructure support and various issues that have emerged with the network. However, the recent developments in the Litecoin network are looking promising, as the Litecoin price is rapidly moving towards $120, and it might well reach that level by the end of the week.
Litecoin – the second biggest cryptocurrency by market capitalization in the world – has broken through the $150 threshold, and is now in the process of “testing” a price target of $120. Litecoin price is up over 1% in the last 24 hours, and has increased by over 2% in the last 5 days.. Read more about litecoin price prediction and let us know what you think.Summary of the situation
- LTC traded down yesterday.
- There’s been an increase in the last few hours.
- The next disc is $120.
The Litecoin price analysis is bearish as the market continues to move lower after breaking through the $150 level. From here we can expect LTC/USD to move even lower and test the $120 level.
4 hours graph LTC/USD. Source: TradingView
The overall market is still on the move, with little bearish action in recent weeks. After a decline of about 70% from the previous all-time high, support was found at $120. The market then recovered a bit and began to move sideways.
The range in which the price moved sideways was around $150-180 until the 20th. The month of July was violated. A quick rebound downward brought the market to the $130 level, where the current price level is.
Therefore, we can expect LTC/USD to focus on another move down in the coming hours to eventually reach the $120 level. Once this happens, LTC/USD should reverse and try to make new highs again in the coming days.
For now, the best option is to wait and see how prices evolve.
Litecoin Price Analysis: Supplement
Litecoin price analysis is bearish now that bears have pushed Litecoin towards $120 support after it broke below $150. However, the market has not yet reached the $120 level, where the previous major low was reached, which means we can expect further declines throughout the day.
While we wait for Litecoin to hit the $120 mark, check out our articles on the benefits of DeFi, bitcoin commissions and what you can buy with bitcoin.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Litecoin price analysis: Litecoin breaks $150, rapidly moves to test $120? Litecoin has surged to a new all-time high this past week, but the attention has been on how the digital currency is approaching its all-time high at $200.00. Since reaching this price in mid-July, Litecoin has seen a steady decline of 10% or so.. Read more about xrp news today and let us know what you think.
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