After a long period of sideways trading, the Litecoin price has finally begun to move in a positive direction. The LTC/USD exchange rate is now at $400 and it looks like the bullish trend will continue for a while.
The what could litecoin be worth in 10 years is a question that has been asked by many people. Litecoin traders are setting their sights on $400 for the coin’s value in ten years.
Although Litecoin is a fork of Bitcoin, things are starting to look bright for Bitcoin’s silver.
For traders, the last several days have been a roller-coaster ride.
After a sluggish performance and a lack of activity in recent weeks, LTC crypto prices have remained unpredictable to the upside, which is exactly what the coin’s market needs.
The State of the Litecoin Market and its Price
LTC prices are reasonably stable at the time of writing, fluctuating within narrow ranges but bullish, pointing to higher highs.
Litecoin, which is ranked 15th by trackers, is strong, seems robust, and is supported by good fundamentals. Fake reports about Walmart’s backing for the currency caused the coin to rise by over 30% before rapidly reversing its gains earlier this week.
The rebound, on the other hand, has been nothing short of spectacular, illuminating traders’ eyes—exactly what the market needs at these time of uncertainty.
Technically, there’s a need to be cautious.
Litecoin prices are still stuck within the September 7 bear engulfing bar, which is bearish from a volumes analysis perspective. Despite the September 13 confidence boost, price increases remain modest.
From a skeptic’s perspective, LTC prices are in a wide consolidation, with higher highs printed along the middle BB in a bear bar with relatively low participation levels.
Litecoin bulls may find some support if LTC bounces from the 50% Fibonacci retracement level of the July to September 2021 trading range.
Dips below $160, on the other hand, may push Litecoin below $130 in the longer term. Gains over the September 2021 highs of $240, on the other hand, open the way to $400.
Correlation between Litecoin and Bitcoin
According to a Trading View expert, if Bitcoin recovers to $50k, demand for Litecoin would increase, pushing the currency up to $270 in the longer run.
Technically, the trader looks for a rounded bottom, which typically acts as a prop for buyers, allowing prices to rise.
According to his study of the LTC/USDT daily chart, the currency may print further highs towards $270, a critical reaction threshold.
Overall, the Litecoin trading community is optimistic, anticipating more price increases in the coming days.
This will go a long way toward slowing down last week’s sellers, pulling the currency higher, and aligning it with August 2021 highs surges.
By the end of 2021, Litecoin is expected to hit $800.
Another trader on Twitter believes that the price of Litecoin will reach $800 before the end of the year.
The LTC/BTC combination is starting to become extremely intriguing, so keep a watch on Litecoin in the next months. Litecoin has an EOY value of 800 dollars. #LTCUSDT #LTC pic.twitter.com/l4aoZmCTBD #LTCUSDT #LTCUSDT #LTCUSDT #LTCUSDT #LTCUSDT #LTCUSDT #
September 11, 2021 — bwh4le (@bwh4le)
The expert points to a potential undervaluation on the LTC/BTC daily chart, which favors bears.
In this fortunate scenario, Litecoin may outperform digital gold, pushing the currency over $800 by the end of 2021, more than double its all-time highs.
LTC Prices May Hit $10,000 as Litecoin Rises in an Ascending Triangle
According to an examination of Litecoin price movement on the weekly chart, another trader predicts even greater increases above $400 to $10k.
LTC bulls are now restrained, but they are still advancing inside an upward wedge. Notably, LTC prices are reversing from the main support trend line, indicating a steadying of demand and trading interest.
It would be simple for buyers to double in in lesser time periods if LTC bulls go over $240. This has the potential to push the coin over $400–the double tops. Nonetheless, according to the expert, LTC purchasers would not pay more than $400. Instead, LTC may rise to $10k in the long run. It’s the asset’s current trading range’s 1.618 Fibonacci extension (swing high and low).
Trading View provided the charts.
Disclosure: The author’s opinion is his or her own. Make your own investigation.
The litecoin news is a cryptocurrency that has seen a recent price increase. LTC traders are setting their sights on $400 to buy in.
Frequently Asked Questions
How much will Litecoin be worth by the end of 2021?
Is LTC a good investment 2021?
The LTC market is in a bearish trend.
Is Litecoin LTC a good investment?
Litecoin is a good investment because it has been around for a long time and there are many people who believe in the coin.
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