Litecoin Price Prediction: LTC Bracing for a 32% Leap Forward

Updated: 15 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Litecoin (LTC) has encountered a bearish trajectory following the halving period.

As of 9:02 a.m. EST, LTC is valued at $81.69, reflecting a marginal 0.2% decline over the past 24 hours. Both its weekly and monthly performance depict downturns of 2.2% and 13.5%, respectively.

Nonetheless, there are indications that Litecoin could be preparing for a significant 32% surge after a notable price plunge that appears to have reached its lowest point. The coin is currently trading near the support level of $81.17.

LTC/USD. Source: Tradingview.com — LTCUSD. Source: Tradingview.com

LTC currently shows a descending channel pattern, characterized by a lower high and a lower low, extending around the $81.17 mark during a consolidation phase.

This pattern suggests the potential for a 32% increase, pushing the price up to $109.

However, it’s worth noting that the 50-day and 200-day moving averages reinforce a bearish sentiment. They are positioned above the current price at $92.21 and $90.36, respectively.

The relative strength index (RSI) has shown signs of recovery, reaching 32. This could indicate buyers exerting pressure, resulting in a price breakout above the descending triangle pattern.

Based on the analysis, if the LTC price rebounds, it might surge to $109, equating to a 32% gain.

On the flip side, if bears succeed in pushing the price below the support level, it might expose the market to further losses, potentially leading to a drop to $72.55.

For Litecoin investors seeking a more suitable option while awaiting a distinct entry point for Litecoin’s price movement, consider $WSM as whales continue to accumulate.

Wall Street Memes ($WSM) Raises $23.9M, Offers 50k Airdrop

The Wall Street Memes token presale makes remarkable strides, already amassing over $23.9 million in funds. $WSM is poised to become the next explosive cryptocurrency following its launch on exchanges.

To further engage presale participants and attract new investors, the project is executing an airdrop valued at $50,000. This Airdrop allows participants to secure a portion of the five sets of $10,000 worth of WSM tokens. To participate in the Airdrop, individuals must complete specific actions.

This time is different I promise (I've said this 2456 times) pic.twitter.com/WNpiOfww4L

— Wall Street Memes (@wallstmemes) August 11, 2023

These actions encompass following the WSM Twitter page, visiting the project’s Instagram and website, joining the Discord and Telegram communities, and presenting verifiable Proof-of-Purchase for WSM tokens. Prospective participants have a window of 111 days remaining to participate in the Airdrop.

In early August, a notable crypto whale injected $1 million into the Wall Street Memes ($WSM) presale, sparking speculation that the enigmatic investor could be Elon Musk.

The mysterious whale address orchestrated a series of five transactions, amassing a total of 460 ETH valued at $840,000, all accomplished within a swift six-minute timeframe. Additionally, this wallet had secured 93 ETH two weeks earlier, contributing to a $1 million invested in $WSM by this crypto whale.

Wall Street Memes Token Allocation and Investment Strategy

WSM has allocated 5% of its total supply for marketing efforts in its token management strategy. By leveraging these resources, the project has expanded its media channels and engaged the services of influencers. An additional 3% of the total supply has been earmarked to reward the community for their loyalty.

A division of 10% each has been allocated to centralized and decentralized exchanges. This allocation will provide the necessary liquidity for official trading commencement.

The project boasts a well-defined roadmap divided into three crucial stages for its long-term success.

These substantial token acquisitions by the $WSM crypto whale serve as a resounding vote of confidence in the potential for returns on investment offered by Wall Street Memes. Detailed records of the $WSM crypto whale’s token acquisitions are publicly accessible on Etherscan.

Investors seeking to maximize potential gains from future price surges should prioritize timely participation in the meme coin’s presale. This ensures securing $WSM tokens at the best possible discount, enhancing investment prospects. They can also acquire $WSM tokens by connecting their digital wallets to the Wall Street Memes website and swapping their ETH, BNB, or USDT (ERC-20 or BEP-20).