Litecoin (LTC) To cross $500?

Litecoin (LTC) has not formed any decisive price action as of yet. The price of the cryptocurrency is oscillating without any certainty. At the time of writing, Litecoin stands at a price level of $135. The price has moved up slightly in the past twenty-four hours while in the weekly timeframe Litecoin has suffered losses of nearly 7%. The daily trading volume of the cryptocurrency is also dropping.

Litecoin (LTC) technical analysis

The market sentiment for Litecoin is bearish. Out of the total twenty-six technical indicators, twelve are giving out a signal of sell with ten standing at a neutral position and only four giving out a buy position.

Litecoin has been identified to be operating inside an ascending channel formation in the long timeframe. The historical price movements of the cryptocurrency show a trend which can be translated into Elliot waves. At the moment, Litecoin has formed a new Elliot wave series.

After completing the first wave of the series, the cryptocurrency is moving downwards towards the lower boundary of the channel for the formation of the second. If the Elliot wave series is validated by Litecoin then it will continue to uphold the trend found in the historic price movement. Per the long-term analysis, the price of the cryptocurrency is expected to continue its upwards trajectory. The price target for Litecoin is set at $2,000.

Litecoin (LTC) price prediction

Litecoin (LTC) being one of the high-market cap cryptocurrencies had bullish long-term price predictions. According to the estimates of Digital Coin Price, Litecoin is going to end the year with $198 while the price in 2028 is expected to be at $623. Wallet Investor has a similar projection for the price of the cryptocurrency. According to their projections, Litecoin’s price level after a year will be $216 while the five-year projection shows a price of $515.

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