Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold?
April 19 2024 - 5:10AM
NEWSBTC
Litecoin (LTC) is proving its toughness in the wild world of
crypto. Even with recent ups and downs in the market, Litecoin is
holding steady, making investors hopeful about its future. While
its price dipped a bit, experts and some charts are pointing
towards a big comeback for LTC. Related Reading: Toncoin Unleashes
DeFi Monster Growth: TVL Soars 300% In A Month Stability In The
Midst Of Market Swings Litecoin’s recent performance stands in
stark contrast to the broader market trend. While its price did
experience a correction, dropping from a peak of $112 to its
current value around $81.12, the decline has been relatively muted
compared to other cryptocurrencies. Analyst Insights And Bullish
Predictions Financial experts are taking note of Litecoin’s recent
performance. Matthew Dixon, CEO of Evai.io, has highlighted LTC’s
resilience compared to Bitcoin during this period of market
volatility. He attributes this stability to the possibility that
Litecoin may have already completed a corrective phase, a period of
price adjustment often followed by an upward trajectory. This
suggests that Litecoin could be poised for significant growth in
the near future. $Ltc#Ltc Gave Golden Chance For Those Who Missed
Earlier Bouncing From Trendline Still Expecting Move Towards
250-300$ In Coming Months https://t.co/Uyv82IeTpp
pic.twitter.com/bYo4cQ9ylx — World Of Charts (@WorldOfCharts1)
April 15, 2024 Adding to the optimistic outlook is respected crypto
analyst World Of Charts. Their analysis suggests advantageous entry
points for investors considering Litecoin. Additionally, they have
identified a robust support level, which acts as a price floor and
prevents excessive downward movement. Based on these factors, World
Of Charts forecasts a target range of $250 to $300 for LTC in the
coming months, expressing strong confidence in its potential for
substantial growth. LTC market cap nearing the $6 billion level.
Chart: TradingView.com Litecoin Starts Q2 With A Dip, But Investors
Eye Rebound Litecoin (LTC) has gotten off to a rocky start in Q2,
with its price falling 12% from $112 to $96. This decline can be
attributed to two main factors. First, a broader market correction
is impacting cryptocurrencies across the board. Second, some
investors who bought in during Litecoin’s Q1 surge from $72 to $112
may be taking profits, further pressuring the price. Related
Reading: All Quiet On The Bitcoin ETF Front – Should You Be
Paranoid? Despite the recent slump, there are reasons for Litecoin
investors to remain optimistic. Many investors still believe in the
long-term potential of LTC, and some experts predict a price rise
to $150 by June. The upcoming Bitcoin halving event, which some
believe will drive up Bitcoin’s price, could also have a positive
spillover effect on Litecoin. LTC price action in the last 24
hours. Source: Coingecko Featured image from Pixabay, chart from
TradingView
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