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Litecoin price pumps 16% this week – Will LTC rally to $100 soon?

Litecoin price pumps 16% this week – Will LTC rally to $100 soon?
Litecoin price pumps 16% this week – Will LTC rally to $100 soon?

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Litecoin has seen significant gains of 16% over the past week following an impressive recovery across the broader crypto market. Litecoin is bullish today after gaining 3.3% in the last 24 hours. At the time of writing, LTC was trading at $88.19 according to data from CoinGecko.

Litecoin price prediction

The release of the positive US Consumer Price Index (CPI) data saw significant gains being posted across the cryptocurrency market. The cooling inflation levels have renewed investor confidence, with a significant increase in buying pressure being seen.

Litecoin bulls rallied the price to $90, which now serves as the current resistance. The bulls were rejected at this price, hence the retreat to $88. Nevertheless, the bullish momentum is still in play, with investors anxious to see whether LTC will break past $90 again and possibly rally to $100.

Litecoin bulls still have the upper hand as seen in LTC’s healthy trading volumes of over $1 billion in the last 24 hours. The coin currently ranks as the 15th largest cryptocurrency with a market cap of over $6.3 billion.

Litecoin price prediction

LTC’s Relative Strength Index of 65 shows that buying momentum is at play. The token is yet to reach the overbought levels, indicating that there is still room for more gtaind to come. The MACD indicator also points to a bullish trend. The MACD line is currently at 0.98, while the signal line is 0.13, indicating that bulls have the upper hand.

Litecoin block reward halving

The Litecoin community is awaiting the next block reward halving, which will be happening in around 200 days. The halving event will see Litecoin block mining rewards slashed by half, and drop from the current 12.5 LTC to 6.25 LTC.

Historically, this halving event has coincided with a notable bull run for LTC. The last halving event happened in August 2019.

Diversify your portfolio with these altcoins

As the crypto market rallies, investors are looking to diversify their portfolios, and presales are known to deliver promising returns. Some altcoins to consider buying today are MEMAG, FGHT, CCHG and RIA.

Meta Masters Guild

Meta Masters Guild is a Web3 project seeking to bring together some of the best blockchain mobile games. Players that participate in the ecosystem will receive rewards in the native MEMAG token. The project seeks to transform the blockchain gaming space by not only creating a fun gaming experience, but also offering more utility and boosting community engagement.

The MEMAG token presale has only just launched. The presale has already crossed the $150,000 mark, with the price increasing gradually at each new stage. At the first stage, 1 MEMAG is priced at 0.01 USDT.

Fight Out

Fight Out is one of the most-talked about projects in the market today because of its ability to transform the move-to-earn space. Unlike projects such as STEPN that solely focus on steps, Fight Out offers a holistic fitness experience through customized workout plans, monitoring tools and analytics.

The project will also have physical gyms that are equipped with Web3 technology and NFT avatars that will track the player’s progress in real time. The Fight Out presale is fast selling out, with over $2.9 million raised so far.

C+Charge

C+Charge is a new project targeting ESG investors. C+Charge runs on BNB Chain, and it aims to use blockchain to create a peer-to-peer payment network for electric vehicles. The project seeks to enable EV drivers to access the carbon credits market.

CCHG is the native token for the project, and it will be used by EV owners to pay for charging their vehicles, making it a utility token. The C+Charge presale started in late 2022, and over $272,000 has been raised. 1 CCHG is priced at 0.013 USDT, and investors are rushing to beat the next price increase.

Calvaria

Calvaria is a play-to-earn battle card game that is currently in the last stage of the presale. Unlike most web3 games, Calvaria will not require cryptocurrency to play, making it accessible to both crypto and non-crypto gamers.

The Calvaria blockchain game will be released in Q2 2023. The presale has raised more than $2.75 million so far, with around 11% of the presale tokens remaining. After the presale ends, RIA is set to be listed on the LBank and BKEX Global exchanges.

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