X

James from Indianapolis

Signed up at BC Game 12 minutes ago.

» Try BC Game too
Do not show again

Litecoin (LTC) has advanced more than 40% since the beginning of November, rising from $54.50 to a high of $83.66. The amount of LTC traded over the last several days saw an increase which meant that buying strength was recovering in the market. But where is the price of Litecoin (LTC) going next, and what can we expect from December 2022?

The current price of Litecoin (LTC) stands at $78.03, which is still more than 45% off from its 2022 highs that were registered in January. 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.

Litecoin could outperform other altcoins in the near future

The last two weeks have been extremely taff for the cryptocurrency market. Cryptocurrencies have been suffering from heavy selling due to negative events around the cryptocurrency exchange FTX. According to a recent report by Coinbase Global, the collapse of FTX could extend the crypto bear market by several more months, and there are fears of a domino effect that could drag other exchanges into the mud.

Despite this, the price of Litecoin (LTC) has advanced more than 40% since the beginning of November, and according to some analysts, LTC still has room for the upside. Capital.com reported:

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. Although the event is still, at the time of writing, nine months away, the rally may have started because cryptocurrency traders tend to be forward-looking and price in the event well in advance.

Litecoin is the 15th largest cryptocurrency by market capitalization at the time of writing, after moving up nearly 34% over the past seven 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.

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

Description: Buy Litecoin today and be part of an exciting project!

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.


Whale addresses with over 1,000 LTC increased rapidly from the middle of June, and it is also important to note that MoneyGram recently listed LTC as one of the cryptocurrencies its US and Columbian consumers can trade and hold on its platform. MoneyGram has a significant dominance in the global remittance service industry and Charlie Lee, the founder of Litecoin, also revealed his excitement because of this. Rumors on Twitter also indicate that regulation may favor proof-of-work coins, which would be bullish for Litecoin.

On the other side, a recent report from CoinMarketCap said that the cryptocurrency community is expecting to see Litecoin trade at $59 per token by the end of the year, down approximately 25% from its current price. Investors are concerned about the risk of recession, and if central banks continue to act too aggressively, this could potentially move the global economy toward a recession. In that situation, Litecoin and all other cryptocurrencies could fall from their current price levels because investors would look for safer places to invest their money.

Technical analysis for Litecoin (LTC)

Litecoin (LTC) has advanced more than 40% since the beginning of November 2022, rising from $54.50 to a high of $83.38. The current price of Litecoin (LTC) stands at $78.03, which is still more than 45% off from its 2022 highs that were registered in January.

The chart below shows that LRC has been moving in a strong downtrend since November 2021, and even with the current jump, LTC remains under pressure when we look at a “bigger” picture.

Technical analysis for Litecoin (LTC)

Important support & resistance levels for Litecoin (LTC)

Important support & resistance levels for Litecoin (LTC)

On this chart (the period from March 2022), I marked important support and resistance levels that can help traders to understand where the price could move. The risk of decline for Litecoin (LTC) is not over, but if the price advances above $90, the next target could be located around $100. The current support level is $70, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $65. If the price drops below $60, which represents very strong support, the next target could be located around $50 or even below.

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

The amount of LTC traded over the last several weeks saw an increase, and if the price advances above the resistance that stands at $90, the next target could be located at around $100. According to Capital.com, 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.

Investors are accumulating Litecoin despite the crypto bear market, and because of this, LTC still has room for the upside. Traders should also consider that the price of Litecoin is correlated with Bitcoin, and if the price of Bitcoin jumps again above $20000, we can see LTC at a higher price level than the current price.

What indicates the downfall for Litecoin (LTC)

Loopring (LRC) has advanced almost 30% this trading week (at the time of writing); still, traders should keep in mind that the price can easily return to levels below $60. The bankruptcy of the FTX crypto giant continues to worry investors, and as a result, cryptocurrency investors continue to offload their assets from the exchanges. The current support level for LTC stands at $70; if the price breaks this level, the next target could be $65 or even $60.

What analysts and experts say

Litecoin (LTC) made sharp gains this month, while most other major cryptos have been reeling under pressure caused by the FTX crisis. From a low of $47.60 on 9 November, LTC jumped to a high of $83.66 on 23 November, a 75% gain within a short time. The main question is, does it have more bullish strength left which depends on both technical and fundamental factors. According to technical analysis, everything indicates that the price could advance even more, but on the fundamental side, there are obviously macroeconomic factors driving the wider crypto market at the moment. This includes the overall bearish market trend together with the FTX fallout, and the underperformance of many cryptocurrencies is here to stay until the bulk of uncertainty has cleared up. 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.

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 Two Certified Authors
Litecoin Newsflash
    LTC Casino: Is Litecoin best for deposits?LTC Casino: Is Litecoin best for deposits?
    Friday, 5 Jul 2024 9:00 am
    Given the name of LTC Casino, it's really not a surprise that people want to know if it's in some way affiliated with the Litecoin network or coin of the same name. The answer is, no. However, that doesn't mean LTC isn't a great coin to opt for on the famous anonymous casino. Litecoin is less congested than other networks like Bitcoin and Ethereum a lot of the time, so you can rely on it being quick. During our tests with Litecoin (LTC), our deposit took under 5 minutes to arrive with cashouts instantly processed, only relying on the speed of the blockchain. You can withdraw a max of 600 LTC per month, compared to 1 BTC a month for reference...
    Read the full newsflash


    Find fully anonymous fun on Friday with LTC CasinoFind fully anonymous fun on Friday with LTC Casino
    Friday, 28 Jun 2024 6:00 am
    Hey, if you're new to the world of anoymous casino sites then you might not have heard of one of the best rated sites on all of Crypto Lists. And that ladies and gentlemen would be the inimitable LTC Casino (read more). What makes it unique is that not only is it completely free of KYC requirements, but it also has no IP tracking so you're genuinely playing 100% anonymously in total privacy. Sign up right now and enjoy the full range of games including classic slots, live games, and everyone's favorite crypto-specific crash games. Come on,...
    Read the full 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

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