Litecoin Price Forecast: LTC lifts off the Launchpad while $250 beckons


  • Litecoin bulls engage forward gears after settling above the 200 SMA crucial level.
  • A break above the 100 SMA and the 50% Fibonacci level to push LTC above $200 and pave the way for gains eyeing $200.
  • The IOMAP shows the absence of strong resistance zones, adding credibility to the uptrend.
  • A recently formed death-cross pattern may limit the bulls’ influence over the price.

Litecoin has set out north after bouncing from support at $152. Initially, recovery was gradual but became rapid after LTC stepped above the 200 Simple Moving Average on the 4-hour chart. If a near-term confluence level is broken, Litecoin may see massive buy orders triggered in anticipation of an upswing to $250.

Litecoin is setting the bullish pace

The cryptocurrency market is generally quiet, primary because Bitcoin is stuck under $50,000. However, Litecoin seems to be charting a recovery path after stepping above several key levels, including the 23.6% Fibonacci, the 50 SMA, and 200 SMA.

At the time of writing, LTC is trading at $193 amid a persistent push by the bulls to hit price levels above $200. The most significant resistance being the confluence formed by the 200 SMA and the 50% Fibonacci level.

Trading above this seller congestion zone will be particularly bullish because it will serve as confirmation that Litecoin is ready to liftoff to the multi-year high. The Moving Average Convergence Divergence (MACD) is almost crossing into the positive region. If the MACD line (blue) holds above the signal line, the bullish picture will remain intact in the near-term.

LTC/USD 4-hour chart

LTC/USD 4-hour chart

The IOMAP shows that Litecoin has a relatively smooth path ahead. If the bulls remain persistent with the push to higher levels, a breakout above $200 will be probable. However, the model brings attention to the region running from $218 to $224, whereby roughly 50,000 addresses bought approximately 750,000 LTC. Trading beyond this area would boost Litecoin toward $250.

On the downside, immense support has been established to ensure that Litecoin does not drop significantly from the prevailing price level. For instance, the IOMAP reveals the buyer congestion between $171 and $177. Here, around 83,000 addresses had previously purchased roughly 3.4 million LTC.

Litecoin IOMAP model

Litecoin IOMAP model

Looking at the other side of the picture

The 4-hour chart highlights the formation of a death cross. This pattern is bearish and forms when a longer-term moving average crosses above a short-term moving average. For example, the 200 SMA has recently crossed above the 50 SMA. This scenario shows that selling pressure is hovering and cannot be ignored.

Therefore, Litecoin must hit areas above $200, and perhaps this move will drive it out of the woods and cancel the negative impact of the pattern


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Crypto Today: Bitcoin, Ethereum and XRP gain on Friday, meme coin NEIRO erases recent gains

Crypto Today: Bitcoin, Ethereum and XRP gain on Friday, meme coin NEIRO erases recent gains

Bitcoin steadies above $60,000 on Friday, gains over 1% on the day. Ethereum trades above $2,400, while BlackRock Spot Ethereum ETF sees a $17.8 million inflow on Thursday. XRP is back above $0.5300 as Ripple files cross-appeal in SEC lawsuit.

More Cryptocurrencies News
Cardano celebrates milestone: Hosts Argentina’s first legally enforceable smart contract

Cardano celebrates milestone: Hosts Argentina’s first legally enforceable smart contract

Cardano ambassador Mauro Andreoli recently announced Cardano’s milestone of Argentina’s first legally and judicially enforceable contract. The first loan agreement in Cardano under Argentine law involves a loan of 10,000 ADA tokens, currently valued at $3,380.

More Cardano News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC finds support around $60,000

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC finds support around $60,000

Bitcoin is finding support around the key level, and a close below this level could signal a decline. Ethereum is approaching a critical resistance barrier; rejection from this level suggests a decline ahead. Meanwhile, Ripple is stuck in a range, reflecting a period of indecision among traders.

More Cryptocurrencies News
SEC sues Cumberland DRW for acting as an unregistered securities broker, Solana ETFs at risk

SEC sues Cumberland DRW for acting as an unregistered securities broker, Solana ETFs at risk

SEC sued crypto trading company Cumberland DRW for allegedly acting as an unregistered broker. Solana was among five cryptocurrencies the SEC alleged to be securities sold via the platform.

More Cryptocurrencies News
Bitcoin Weekly Forecast: Will BTC decline further?

Bitcoin Weekly Forecast: Will BTC decline further?

Bitcoin’s (BTC) price fell over 6% at some point this week until Thursday, extending losses for a second consecutive week, as it faced rejection from a key resistance barrier.

Read full analysis
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

BTC

ETH

XRP