Litecoin (LTC) Price Prediction 2022
Detailed Report
Litecoin (LTC) Current Market Status
According to CoinGecko, the price of Litecoin (LTC) is $60.49 with a 24-hour trading volume of $340,642,505 at the time of writing. However, LTC has decreased to 4.9% in the last 24 hours.
Moreover, Litecoin (LTC) has a circulating supply of 70,903,545 LTC. Currently, LTC trades in cryptocurrency exchanges such as Binance, FTX, Coinbase, FMFW.io, OKX, Bybit, MEXC, Huobi global, KuCoin, and ZB.Com.
What is Litecoin (LTC)?
Litecoin (LTC) is one of the pioneer cryptocurrencies that debuted in the crypto space after Bitcoin. LTC was launched in 2011 as Bitcoin-inspired crypto. Litecoin’s creator Charlie Lee calls it a “coin that is silver to Bitcoin’s gold”. Just like Bitcoin, the Litecoin blockchain also operates on the proof-of-work (PoW) consensus
Bitcoin and Litecoin have key differences in their supply cap, hashing algorithm, and transaction speed. LTC has a fixed supply cap of 84 million which is greater than Bitcoin’s 21 million supply cap. Unlike Bitcoin’s SHA-26 hashing algorithm, Litecoin uses the Scrypt algorithm. It takes around 2.5 minutes for a block to be generated on the Litecoin blockchain whereas it would take 10 minutes on Bitcoin.
Litecoin (LTC) Price Prediction 2022
Litecoin (LTC) holds the 22nd position on CoinGecko right now. LTC price prediction 2022 is explained below with a weekly time frame.
The above chart of Litecoin (LTC) laid out the ascending triangle pattern. The ascending triangle pattern is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. The trendlines of a triangle need to run along at least two swing highs and two swing lows. The ascending triangle pattern is a continuation pattern.
Currently, Litecoin (LTC) is at $58.96. If the pattern continues, the price of LTC might reach the resistance level of $101.00. If the trend reverses, then the price of LTC may fall to $51.00
Litecoin (LTC) Support and Resistance Levels
The chart below shows the support and resistance levels of Litecoin (LTC).
Resistance Level 1 $64.55
Resistance Level 2 $93.82
Resistance Level 3 $132.76
Resistance Level 4 $169.58
Support Level $41.18
The charts show that LTC has performed a bullish trend over the past month. If this trend continues, LTC might run along with the bulls overtaking its resistance level at $169.58.
Accordingly, if the investors turn against the crypto, the price of the LTC might plummet to almost $41.18, a bearish signal.
Short Note for Active Traders/Investors
Breakout Level : $65
Target : $101
Stop Loss : $51
Detailed Report
Litecoin (LTC) Current Market Status
According to CoinGecko, the price of Litecoin (LTC) is $60.49 with a 24-hour trading volume of $340,642,505 at the time of writing. However, LTC has decreased to 4.9% in the last 24 hours.
Moreover, Litecoin (LTC) has a circulating supply of 70,903,545 LTC. Currently, LTC trades in cryptocurrency exchanges such as Binance, FTX, Coinbase, FMFW.io, OKX, Bybit, MEXC, Huobi global, KuCoin, and ZB.Com.
What is Litecoin (LTC)?
Litecoin (LTC) is one of the pioneer cryptocurrencies that debuted in the crypto space after Bitcoin. LTC was launched in 2011 as Bitcoin-inspired crypto. Litecoin’s creator Charlie Lee calls it a “coin that is silver to Bitcoin’s gold”. Just like Bitcoin, the Litecoin blockchain also operates on the proof-of-work (PoW) consensus
Bitcoin and Litecoin have key differences in their supply cap, hashing algorithm, and transaction speed. LTC has a fixed supply cap of 84 million which is greater than Bitcoin’s 21 million supply cap. Unlike Bitcoin’s SHA-26 hashing algorithm, Litecoin uses the Scrypt algorithm. It takes around 2.5 minutes for a block to be generated on the Litecoin blockchain whereas it would take 10 minutes on Bitcoin.
Litecoin (LTC) Price Prediction 2022
Litecoin (LTC) holds the 22nd position on CoinGecko right now. LTC price prediction 2022 is explained below with a weekly time frame.
The above chart of Litecoin (LTC) laid out the ascending triangle pattern. The ascending triangle pattern is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. The trendlines of a triangle need to run along at least two swing highs and two swing lows. The ascending triangle pattern is a continuation pattern.
Currently, Litecoin (LTC) is at $58.96. If the pattern continues, the price of LTC might reach the resistance level of $101.00. If the trend reverses, then the price of LTC may fall to $51.00
Litecoin (LTC) Support and Resistance Levels
The chart below shows the support and resistance levels of Litecoin (LTC).
Resistance Level 1 $64.55
Resistance Level 2 $93.82
Resistance Level 3 $132.76
Resistance Level 4 $169.58
Support Level $41.18
The charts show that LTC has performed a bullish trend over the past month. If this trend continues, LTC might run along with the bulls overtaking its resistance level at $169.58.
Accordingly, if the investors turn against the crypto, the price of the LTC might plummet to almost $41.18, a bearish signal.
Short Note for Active Traders/Investors
Breakout Level : $65
Target : $101
Stop Loss : $51
