Litecoin Price Prediction, what are Experts Saying About LTC’s Future?

Join Our Telegram channel to stay up to date on breaking news coverage

Litecoin shares many similarities with Bitcoin, although it was invented to facilitate cheaper transactions, providing efficiency for network users across the crypto space. The innovation aims to address problems like transaction scale, transaction speed, and commission fees.

Litecoin (LTC) is a peer-to-peer cryptocurrency that facilitates the selling and buying of cryptocurrencies among users without involving any central negotiator.

Users can utilize a P2P exchange to access a global marketplace, private offers, and various payment options. As such, Litecoin is a decentralized open-source project released under the MIT/X11 license.

Due to its solutions and utility in the crypto space, Litecoin is referred to as the silver counterpart to Bitcoin’s gold. However, it can handle more transactions per time than Bitcoin.

Litecoin has a faster block time than Bitcoin, meaning transactions can be confirmed faster. Block time for Litecoin is 2.5 minutes, while Bitcoin’s block time is 10 minutes.

In the past years, Litecoin experienced a surge in 2017 and 2021, reaching its all-time high of $413 in 2021. However, in the long run, it has faced several dips and slight gains in the market.

Litecoin Past and Present Price Action

According to Litecoin’s historical data on the leading trading platform, CoinGecko, LTC has seen several price movements in the market within a short time frame. On June 10, Litecoin’s price was at $89.14. However, in seven days, it dropped to $76.03 on June 17.

Despite several rallies from June 18 to June 23, LTC faced persistent fluctuations, recording $91.10 on June 24 and dropping again to $89.53 the next day (June 25). Since then, Litecoin has been in the bullish trend, climbing from $87.24 on June 27 to $107.96 on July 1.

On July 2, LTC was priced at $107.12, but by July 6, it recorded $102.61. However, in the last three days, the coin has dropped, maintaining its position between $95 and $97 (July 7 to July 9).

Today July 10, Litecoin is trading at $94.21, with a price difference of 2.4% at the time of writing, compared to its record yesterday.

Although the coin is lingering in red trends, several crypto analysts and experts are predicting potential bullish turn-ups for Litecoin (LTC) by the end of 2023 and beyond.

Notwithstanding, a price analysis based on technical indicators could hint at Litecoin’s price outlook.

Litecoin’s Price Outlook Based on Technical Indicators

Despite its short and long-term bullish signal, Litecoin is forming a red candle stick.

LTC is trading above the 50-Day and 200-Day Simple Moving Average (SMA) indicator, a short and long-term bearish market signal. The coin’s bulls are still active and could take LTC’s price to $100 in the long run.

On the other hand, the Moving Average Convergence/Divergence (MACD) indicator is below the signal line with a red histogram bar, indicating a bearish tendency. As such, LTC could decline further to $94 before the end of the day.

Meanwhile, the Relative Strength Index (RSI) is at 51.42, representing the coin’s neutral market position as it sits between oversold (below 30) and overbought zone (above 70).

The RSI is moving horizontally, representing a competitive market between buyers and sellers. If sellers surpass buyers, the RSI could drop to the oversold zone (below 30), resulting in a prolonged bearish market for LTC.

However, on the contrary, the RSI could commence a long-term upward trend, approaching the overbought zone (above 70). As such, LTC could see potential rallies and could become overvalued if it successfully reaches the overbought market region.

Note that cryptocurrencies are volatile and can deviate from expected price behavior. Therefore, comprehensive technical analysis and proper risk management practices must be available before trading.

Experts’ Perception of Litecoin Price in the Short and Long Term

Considering the recent price movement and based on technical analysis, crypto analysts and experts are giving their opinions on the future performance of LTC.

The analysis made by Changelly predicts that at the end of today, July 10, Litecoin will be trading at the price of $85.48, indicating a -11.98% loss.

However, at the end of 2023, the maximum price is expected to be $130.52, with a minimum value of $112.90 and an average of $116.81. By 2025, the coin’s maximum price is expected to reach $288.08, with a minimum of $225.86 and an average of $232.65.

In the next five years, by 2030, Changelly also predicts that the maximum price for Litecoin will be $1,748.31, with a minimum value of $1,468.78 and an average price of $1,520.62.

Another expert, CryptoNewsZ, predicts that by the end of July 2023, the maximum price for Litecoin will be $141.74, while the minimum price is projected to be $110.05.

At the end of the year 2023, CryptoNewsZ expects the maximum price of Litecoin to be $189.20, and the maximum price will be $77.92 Furthermore, CryptonewsZ predicts that by 2025, LTC will reach $305.68 (maximum) and $212.34 (minimum).

In five years, Litecoin’s price is expected to reach a maximum of $1,053.04 and a minimum price of $731.50 in 2030. While many experts predict a high-growth outlook for the price of LTC, it’s worth knowing that several factors can impact the coin’s price in the long run.

Factors That Could Affect the Price of Litecoin

Cryptocurrencies are subject to several factors, including macroeconomic activities, laws of supply and demand, regulatory activities, market sentiment, and ecosystem-related developments.

As such, here are notable factors that could affect Litecoin’s price in the long run.

Market Sentiment

The market’s reaction to news or events related to Litecoin can determine its price action. Positive reactions will positively impact the coin’s price, while negative reactions will negatively impact the price.

Supply and Demand

The capped supply of Litecoin tokens is 84 million. According to the laws of supply and demand, more demand will cause scarcity, driving the coin’s value. However, if supply surpasses demand, the coin’s price can fall.

Technological Development

Updates and innovations to LTC’s underlying technology could affect the coin’s value. For instance, if the Litecoin ecosystem released upgrades that will enhance security, scalability, or vast usability, they’re likely to attract more users, thus increasing demand and potentially resulting in price growth.

Bitcoin’s Influence

Notably, the price of Litecoin takes after Bitcoin’s trend as they share similar technology. Also, LTC is always perceived to complement Bitcoin. As such, if BTC’s price faces rises or dips significantly, LTC will replicate the same.

Regulatory News

Regulatory news can significantly impact a cryptocurrency due to its potential to influence market sentiment and investor behavior.

When regulatory announcements are made, such as new laws, regulations, or government actions related to cryptocurrencies, it can create uncertainty and volatility in the market.

Positive regulatory news, such as favorable regulations or recognition of cryptocurrencies, can boost confidence and attract more investors, increasing demand and potentially driving up prices.

Conversely, negative regulatory news, such as bans, restrictions, or crackdowns, can create fear and uncertainty, causing investors to sell off their holdings and decline prices.

Additionally, regulatory changes can impact cryptocurrencies’ overall adoption and legitimacy, potentially affecting their long-term prospects.

As a result, regulatory news plays a crucial role in shaping the cryptocurrency market and requires careful consideration by market participants. While Litecoin is posing to succeed in the near future, a new crypto project, Thug Life ($THUG), is making waves with its presale.

Thug Life (THUG) Presale Soaring in no time

The community-focused crypto project, Thug Life, offers a fresh opportunity for potential gains for those who missed out on past meme coin presales. Thug Life represents the willpower and tough attitude to succeed despite injustice.

Furthermore, it’s a meme crypto project that helps repay crypto enthusiasts who got conned and deceived while trading in cryptocurrency.

According to the project’s official website, Thug Life is a crypto market gangster. Interestingly, every participant must benefit from the crypto market by investing in Thug Life (THUG), as the project can overcome any obstacle in the long run.

The utility token, $THUG, powers the movement of humor that shared the struggle of hustling in the semantic web. It is one of the hottest meme coin projects of the Web3 sector in 2023.

Since Thug Life started offering its $THUG token in presale, it has raised $836,495.64 at the time of writing and is approaching the $2,058,000 benchmark.

Considering the fast-selling speed of the tokens in presale, $THUG could hit this benchmark before the end of its presale scheduled in the next few days.

With the increasing interest of people who put money into emerging assets to make a profit, the presale is notably making waves despite being live two weeks ago.

Currently, 1 $THUG is priced as low as $0.0007, allowing interested investors to grab the token at a discount. Once the presale is over, the token will hit several exchanges, and the price will increase as more investors join the $THUG movement.

If you want to be part of this high-potential crypto, buy as many as you want and await the price potential spike set to come soon.

Smog (SMOG) - Meme Coin With Rewards

Rating