Litecoin Price Prediction: LTC Reaches $67.7

Litecoin Price Prediction: LTC Reaches $67.7 – Is a Bull Run Imminent?

Updated: 30 August 2023

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After fluctuating between $64.48 and $66 for nearly a week, Litecoin’s (LTC) price shot up yesterday, August 29. The coin’s price skyrocketed from $65 to almost $70.

The price stopped short of this resistance, reaching $69.64 during the initial surge.

Following this, the price dropped to $68.16, only to bounce back up and again try to reach the level at $70. However, once again, the resistance rejected it before it did so, allowing it to get a maximum price of $69.75.

The coin then dropped again, finding another, more minor support at $68.50.

The support broke after holding on for several hours, and the price dropped again, stopping at $68. Over the past 12 hours, Litecoin’s value continued to decrease, considerably reaching $67.7 as of the time of writing.

Can the coin resume the bull run, or will the bears take over again and push it further down?

Did Grayscale Fuel LTC Price Recovery?

Yesterday, August 28, reports emerged stating that Grayscale won a case against the SEC and that the court ordered the regulator to reconsider the company’s ETF proposal.

The crypto industry saw this as a massive victory for Bitcoin and the crypto industry. As one of Bitcoin’s oldest forks, Litecoin saw its price react the same way as BTC — surging past former resistances and increasing by around 5% before seeing a slight correction.

This, of course, came from a sudden reaction of the coin’s community, which led to a massive surgcoin’sTC transition on BitPay. With nearly 5 million addresses that have held LTC for over a year showing confidence in the current market conditions, the coin saw an unexpected jump.

Where is LTC going next?

After noting the new developments, analysts indicated that LTC saw exciting performance in the past year. In June 2022, the coin reached its lowest point during the bear market. Then, it saw a solid bullish wave in 2023, reaching a peak in July, more than a year since June 2022, when it hit bottom.

One analyst noted that the most robust correction in over a year was followed by seven weeks of dropping, with the last one being the strongest, painted in red. The week that followed, however, is a Doji and closes green, and is then followed by another green week.

The analyst suggested this could be a grand entry, but the trend could change if a major correction occurs.

Launchpad XYZ Presale Bonus Drops from 20% to 19%

Launchpad XYZ (LPX), a project that aims to offer education and tools for developers and traders seeking to conquer Web3, is in the middle of its presale.

Some time ago, the project introduced a 20% bonus to those who purchased LPX and those who will buy moving forward.

However, it noted that this is a limited offer and that the percentage will continue to drop. This happened, and the rate went from 20% to 19%.

The project already saw a lot of activity, raising over $1.5 million. However, the bonus is meant to encourage users to buy more and get more for their money.

Each LPX is available for $0.0445, and the opportunity to use the bonus will end in a little under seven days.

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