X

Elizabeth from Arlington

Signed up at Goat Casino 32 minutes ago.

» Try Goat Casino too
Do not show again

Litecoin (LTC) has advanced more than 40% since March 11, 2023, rising from $65.39 to a high of $94.88. The amount of LTC traded over the last several days saw an increase which meant that buying strength was recovering in the market.

The current price of Litecoin (LTC) stands at $93.66, which is still more than 35% off from its 2022 highs that were registered in January.

But where is the price of Litecoin (LTC) going next, and what can we expect from April 2023?

Today, Crypto Lists will discuss LTC price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk, and how much margin you have if trading with leverage.

Federal Reserve hinted it was close to pausing interest rate hikes

The cryptocurrency market remains supported after the Federal Reserve hinted it was close to pausing interest rate hikes amid turbulence in the banking sector. The U.S. central bank on Wednesday raised rates by an expected 25 basis points, bringing the federal funds rate in a range of 4.75% to 5%. Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut, said:

“The U.S. central bank’s policy statement no longer said “ongoing increases” would likely be appropriate, indicating a clear shift in its stance. Markets are hoping that you have one more interest rate hike to go, probably.”

The Fed’s softer tone relieved markets that have been roiled by liquidity-crisis concerns in the banking sector, and analysts’ expectations are almost equally split between the Fed pausing its rate hikes in May and another 25 bps hike.

According to the Federal Reserve, the U.S. banking system is “sound and resilient,” but the financial turmoil is “likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation” to an uncertain extent.

Worries persist that the Fed’s battle against inflation could tip the economy into recession, and traders should keep in mind that the crypto selloffs could gather speed if Bitcoin falls again below the $25,000 mark.

Rating: 9.33/10
Supply: 69,924,556 / 84,000,000
Release date: October 13, 2011

Description: Buy Litecoin and be part of the peer-to-peer payments revolution!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Litecoin could outperform other altcoins in the near future

Litecoin is the 14th largest cryptocurrency by market capitalization at the time of writing, after moving more than 20% in the last three days. Analysts expect Litecoin will likely outperform other altcoins in the near future, moving up higher when altcoin prices rise and seeing a lower downside when altcoin prices move down.

In the last twenty-four hours, Litecoin advanced more than 6% to reach an intraday high of around $94.88. In comparison, the total cryptocurrency market capitalization has risen less than 3% to $1.14 trillion, with Bitcoin and Ethereum rising 1.79% and 1.42%, respectively.

According to some analysts, the euphoria around Litecoin could be influenced by its upcoming halving in August 2023, when mining rewards are slated to reduce from 12.5 LTC per block to 6.25 LTC per block. Although the event is still four months away, the rally may have started because cryptocurrency traders tend to be forward-looking and price the event well in advance.

The Litecoin Halving Cycle takes place every 840,000 blocks according to a predetermined Litecoin halving schedule defined in the Litecoin protocol. Two Litecoin halving events have already taken place, the first in 2015 and the second in 2019.

The Litecoin halving in 2015 reduced the Litecoin block reward from 50 LTC each block to 25 LTC each block. The last Litecoin halving event occurred in 2019 dropping the block reward in half from 25 LTC to 12.5 LTC per block.

Technical analysis for Litecoin (LTC)

Litecoin (LTC) has advanced more than 40% since March 11, 2023, rising from $65.39 to a high of $94.88. Litecoin’s current price stands at $93.66, and according to technical analysis, bulls continue to control the price movement. As long the price of LTC is above $80, we can’t talk about a trend reversal, and the price of this crypto remains in the BUY-ZONE.

Technical analysis for Litecoin (LTC)

Important support & resistance levels for Litecoin (LTC)

On this chart (the period from June 2022), I marked important support and resistance levels that can help traders to understand where the price could move. Litecoin remains in the “BUY ZONE,” and if the price advances above $100, the next target could be resistance that stands at $110. The important support level is $80, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $70. If the price drops below $70, which represents very strong support, the next target could be located around $60 or even below.

What speaks for the rise in the Litecoin (LTC) price

The amount of LTC traded over the last several days saw an increase, and if the price advances above the resistance that stands at $100, the next target could be located at around $110.

One of the reasons for the possible uptick in Litecoin’s price could be its upcoming halving in August 2023, when mining rewards are slated to reduce from 12.5 LTC per block to 6.25 LTC per block.

According to the technical picture, Litecoin (LTC) still has room for the upside, especially if the price of Bitcoin continues to perform well.

What indicates the downfall for Litecoin (LTC)

This trading week has been very successful for Litecoin, but investors should continue to take a defensive investment approach as the macroeconomic landscape remains uncertain. The important support level for LTC stands at $80, and if the price falls below this level, the next target could be $70.

The price of Litecoin is also correlated with the price of Bitcoin, and if the price of Bitcoin drops below the $25000 price level, that would certainly have a negative influence on the price of LTC.

What do analysts and experts say?

The cryptocurrency market remains supported after the Federal Reserve hinted it was close to pausing interest rate hikes, while some analysts said that the current crypto rally suggests that the banking system is terrible and the economy needs an alternative.

Analysts expect Litecoin will likely outperform other cryptocurrencies in the near future, moving up higher when the cryptocurrency market rises and seeing a lower downside when cryptocurrency prices move down.

The euphoria around Litecoin is also influenced by its upcoming halving in August 2023, when mining rewards are slated to reduce from 12.5 LTC per block to 6.25 LTC per block. Although the event is still four months away, the rally may have started because cryptocurrency traders tend to be forward-looking.

Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.

by Our Certified Author
Litecoin Newsflash
    No KYC, no IP logs, 100% fun at LTC Casino anonymous heavenNo KYC, no IP logs, 100% fun at LTC Casino anonymous heaven
    Monday, 26 Feb 2024 8:30 am
    Looking to start your week off in an exciting, adrenaline-fueled way that sets you up for potential big wins and bigger fun? Then look no further than our favorite anonymous casino. Can you guess what it is? That's right: LTC Casino (review). With thousands of games, instant crypto deposits and payouts too featuring BTC, ETH, and of course LTC among others there's simply tons of choice in both payments as well as gaming choices. And the best bit? You can sign up in 10 seconds without any KYC and no IP logging either! Play on LTC today and see for yourself how good...
    Read the full newsflash


    Play Dragon's Lucky 25 anonymously on LTC CasinoPlay Dragon's Lucky 25 anonymously on LTC Casino
    Wednesday, 21 Feb 2024 3:24 pm
    Whether you are Chinese or just love the culture, there is no doubt that their new year celebrations are something to behold. If so, you're gonna absolutely love Mascot Gaming's recent title. Can you guess what it is? That's right: Dragon's Luck 25 (read review) What's more is that this slot has an RTP of 95.30%, which isn't the highest but there's also not super high volatiliy either - so it's steady and super fun rather than adrenaline-fueled craziness. But, there's always something for everyone. If you'd prefer something with super high RTP and sky-high volatility then take a look at all of our game reviews. But if you'd rather get going with Dragon's Luck then why not sign up to LTC Casino - an amazing anonymous site that's got crypto play with a multitude of different coins too. And, instant deposits and withdrawals...
    Read the full newsflash


    LTC Casino: the best anonymous casino of 2023LTC Casino: the best anonymous casino of 2023
    Monday, 8 Jan 2024 1:02 pm
    It's Monday afternoon over here in Europe and that means it's time for some anonymous casino action. And if we're going straight for the top spot then we can't recommend any other than the wonderful LTC Casino (see more). It's been among the firm favorites of Crypto Lists' readers for almost a year now, and we can't see many sites coming close to the crown any time soon - though we've certainly got our positive suspicions about Eth Play (review)! What makes LTC so good? Well, apart from the super speedy deposits and lightning quick withdrawals there's no KYC when you sign up. Not even a date of birth or address is needed. How about when you withdraw funds? None. Amazing, right? There is never, ever a single bit of KYC and you'll never have to worry about a withdrawal being delayed because you didn't upload a document properly. It's simply pick up, play, win, withdraw. Awesome. Sign up to LTC now and if you agree...
    Read the full newsflash


    3 Hot Bitcoin Casino Jackpot Games at LTC Casino3 Hot Bitcoin Casino Jackpot Games at LTC Casino
    Wednesday, 29 Nov 2023 4:28 pm
    Have you played some jackpot games before and want to try the excitement with Bitcoin or other cryptocurrencies? Well, some of the huge Bitcoin jackpots now give out more than 3500 times (!) the bet to lucky jackpot winners. Our favourite crypto casino jackpot games that's available at LTC Casino are the following - in decreasing jackpot order:

    Gold Rush Johnny Cash from BGaming: Win up to 3500 Litecoin (LTC) or equivalent in other cryptocurrencies in their current Mega Jackpot when playing at LTC.

    4 Secrets of Aladdin by Belatra. Currently, this exciting game have 1400 LTC in major progressive jackpot, ready to be won. Are you the lucky one?
    Inca Son from OnlyPlay - Win up to 1000x in this rather high volatility game. All the above BTC jackpot games and another 201 alternatives can be enjoyed at LTC Casino - one of the favourite...
    Read the full newsflash


    Go no-KYC this weekend on the awesome & anonymous LTC CasinoGo no-KYC this weekend on the awesome & anonymous LTC Casino
    Friday, 10 Nov 2023 5:30 pm
    Fancy a bit of Friday fun? We don't blame you. It's been a busy week for most and letting your hair down on a cool crypto casino this weekend is exactly the kind of thing you need. Today we've got a firm favorite to recommend if you haven't signed up there already (you're missing out!). Let us introduce you to - for the second or third time - LTC Casino (review). What we love about LTC is that they always have the latest games from the software providers they work with. And, most of all - you can sign up without any KYC. That's right, absolutely none. Zero. Nada. Whatever your lingo, it's a good thing, right? It means you can get started enjoying the best games right away without having to take snaps of your passport and wait for your address documentation to be verified by an overwhelmed customer support team dealing with a thousand requests. So, ready to get started? Sign up at LTC now and see how quickly you can start winning the biggest prizes on...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top