The current trading price of Litecoin is $64.34, with a positive shift of nearly 1.50% within the past 24 hours.
Litecoin holds the #15 ranking on CoinMarketCap, with a live market capitalization of approximately $4.74 billion.
With a circulating supply of 73,612,302 LTC out of a predetermined cap of 84,000,000 LTC, market speculators are eagerly anticipating if Litecoin has the momentum to breach the ambitious $1,000 threshold.
Stay tuned as we delve deeper into Litecoin’s potential trajectory.
Litecoin Price Prediction
From a technical perspective, Litecoin’s trading pattern indicates some uncertainty.
After an unsuccessful attempt to surpass the $65 resistance level, the consistent candle closures below $67, which corresponds to the 23.6% Fibonacci retracement, suggest a potential price correction.
The emergence of neutral candles such as dojis and spinning tops also hint at investor indecision.
Analyzing the four-hour timeframe, Litecoin’s price oscillates around the 50-day exponential moving average, emphasizing the ongoing battle between bulls and bears.
Divergence is evident among technical indicators like the Oscillator Indicator, Relative Strength Index (RSI), and the Moving Average Convergence Divergence (MACD).
The RSI below the 50 mark implies a bearish sentiment, while the MACD with its histograms above zero and displaying green bars signifies potential bullish momentum.
However, the disparity between these indicators reveals market uncertainty, suggesting that investors are seeking a catalyst to guide Litecoin’s price trajectory.
Key support for Litecoin is anticipated around the $63.75 level, supported by the 50-day exponential moving average.
A decline beyond this level could expose Litecoin to the $62.25 mark, with the significant $61 level potentially acting as a strong support.
On the flip side, a bullish crossover above $64.85 could pave the way for an ascent to $66.85. Beyond this level, the 38.2% Fibonacci retracement level might pose a challenge, potentially capping gains near the $70.43 mark.
In summary, traders should closely monitor the pivotal $65 mark; a descent below may entice sellers, while a climb above could attract buying interest.
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Strong investor interest has been observed during the presale of Wall Street Memes, with over $300,000 raised on the first day and a total of $25 million so far.
Currently, WSM tokens are available for purchase at a price of $0.0337 during this presale period.
This presents an exciting opportunity for growth that should not be overlooked.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.