Litecoin Price Prediction 2021 – Will LTC Hit $800 Soon?
- Bullish LTC price prediction ranges from $189 – 400.
- LTC price might also reach $813 soon.
- LTC bearish market price prediction for 2021 is $149.
In Litecoin (LTC) price prediction 2021, we use statistics, price patterns, RSI, and much other information about LTC to analyze the future movement of the cryptocurrency.
Litecoin (LTC) is a digital currency which is developed to offer fast, secure, and low-cost payments by providing the unique properties of blockchain technology. Moreover, the crypto was developed based on the Bitcoin (BTC) protocol.
However, it varies in terms of the hashing algorithm utilized, hard cap, block transaction times, and some other factors. More so, LTC has a block time of just 2.5 min and highly low transaction fees.
According to CoinGecko, the Litecoin price is trading at $159.89 with a 24-hour trading volume of $2,679,568,217, at the time of writing. However, LTC has decreased by 1.7% in the last 24 hours.
Moreover, LTC has a circulating supply of 66,752,414 LTC. Currently, LTC trades in cryptocurrency exchanges such as Binance, ZG.com, Huobi Global, OKEx, and IDCM.
Litecoin (LTC) Price Prediction 2021
Litecoin (LTC) holds the 11th position on CoinGecko right now. LTC price prediction 2021 explained below in three time frames.
Monthly Time Frame
The monthly time frame chart of Litecoin (LTC) is shown below. The chart shows the Double Bottom pattern. A double bottom pattern describes a change in trend and a momentum reversal before leading price action.
- Resistance Level 3 – $416.58
- Resistance Level 2 – $337.16
- Resistance Level 1 – $199.13
- Support Level 1- $118.46
In this pattern, it is identified that the LTC price might surge to $416.12. In case the investors turn against the crypto, it has a huge chance of plummeting to $149.94.
Now let’s identify the support and resistance level using other time frames.
Weekly Time Frame
The weekly time frame chart of the pattern of Litecoin (LTC) is shown below. The chart shows the channel trend pattern of Litecoin.
- Resistance Level 1 – $189.49
- Resistance Level 2 – $210.11
- Next Resistance Level 3 – $412.55
- Support Level 1 – $121.03
In the weekly chart, LTC shows a bullish trend. If the trend continues, it has a huge chance of surging to $412.55. In contrast, if the investors turn against the crypto, there is a huge chance the price could drop to $121.
Daily Time Frame
The daily time frame chart of the pattern of Litecoin (LTC) is shown below.
- Resistance Level 1 – $233
- Resistance Level 2 – $297
- Next Resistance Level 3 – $388
- Support Level 1 – $142
- Support Level 2 – $115
The chart above shows that LTC has performed a bullish trend over the past month. If this trend continues, LTC might run along with the bulls overtaking its resistance level at $388.
Conversely, if the investors turn against the crypto, the price of LTC might plummet to almost $115, a bearish signal.
From the three patterns it is clear that if the bullish trend continues it is possible to reach over $400. In contrast, if the crypto turns against the bull, it has a huge chance of plummeting to nearly $149.
All-in-all, our long-term LTC price prediction 2021 is bullish. It has a huge possibility of surpassing its current all-time-high (ATH) this year; it might reach $813. However, this will only happen if it breaks many past psychological resistances.
Litecoin (LTC) Relative Strength Index (RSI)
Now let’s look at the relative strength index (RSI) of LTC. As shown in the chart above, the RSI remains at level 46.24. This shows that LTC’s price is in a neither overbought nor oversold state. However, investors can trade safely without any fear.
From the starting of 2021, it is very obvious that the LTC price has seen many bullish trends. Furthermore, considering all these into account, LTC could have a competitive market in 2021.
Conclusion
The LTC is one of the cryptos that keeps its ground against the bearish market. It may reach $400 soon and it might even reach high heights, however reaching $813, if investors have planned that LTC is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
