{"id":37189,"date":"2022-12-05T09:54:29","date_gmt":"2022-12-05T09:54:29","guid":{"rendered":"http:\/\/egrowonline.com\/?p=37189"},"modified":"2022-12-05T09:54:29","modified_gmt":"2022-12-05T09:54:29","slug":"litecoin-ltc-targets-100-after-successful-breakout","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37189","title":{"rendered":"Litecoin (LTC) targets $100 after successful breakout"},"content":{"rendered":"


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The cryptocurrency market<\/a> is riding the green wave as most of its assets recover from a crisis sparked by the collapse of FTX<\/a>, once one of the largest crypto exchanges<\/a> in the world, with Litecoin (LTC<\/a>) recording especially significant gains and showing signs of a bright future.<\/p>\n

Specifically, the increases that the price of Litecoin<\/a> has been registering for the past several days are an indicator that the decentralized finance (DeFi<\/a>) token could secure a rally towards $100, according to the tweet<\/a> by a pseudonymous crypto trading<\/a> expert Bitcoin Bull<\/em> on December 5.<\/p>\n

As the crypto analyst explained:<\/p>\n

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\u201cLTC broke above the rising channel successfully and stayed above for a few days and now bouncing again. Targeting $90-$100 area.\u201d<\/p>\n<\/blockquote>\n

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Litecoin price action analysis and prediction. Source: <\/em>Bitcoin Bull<\/em><\/a><\/figcaption><\/figure>\n

On top of that, Litecoin three weeks ago recorded the largest amount of dormant tokens being moved in four years and a decrease in the ageing of the average token investments<\/a>, which is an \u201cingredient for bullish<\/a> breakouts,\u201d as the crypto market intelligence platform Santiment<\/em> observed<\/a> in a tweet on December 5.<\/p>\n

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Litecoin mean dollar age and age consumed. Source: <\/em>Santiment<\/em><\/a><\/figcaption><\/figure>\n

Litecoin price analysis<\/h2>\n

Meanwhile, Litecoin is recording gains on all of its charts, as it trades at $83.60 at press time, which represents an increase of 9.42% on the day, 15.85% across the week, and\u00a021.54% over the previous 30 days, with a $6 billion market capitalization.<\/p>\n

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Litecoin 7-day price chart. Source: <\/em>Finbold<\/em><\/a><\/figcaption><\/figure>\n

With its price action, Litecoin has confirmed analysts\u2019 earlier predictions of an uptrend and then some. Indeed, Rekt Capital<\/em> estimated that LTC would need to close November above $67 and hold above this level \u201cto move higher next month,\u201d as Finbold reported<\/a>.<\/p>\n

Despite the optimism shown by analysts and chart patterns<\/a>, the cryptocurrency<\/a> community at CoinMarketCap<\/em><\/a> is demonstrating a bearish<\/a> view for Litecoin for December 31, 2022, as it estimates<\/a> it will trade at an average of $62.29, which is over 25% lower than its current price although more positive than its previous predictions<\/a> reported by Finbold.<\/p>\n

Disclaimer:<\/em><\/strong> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.\u00a0<\/em><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market is riding the green wave as most of its assets recover from a crisis sparked by the collapse of FTX, once one of the largest crypto exchanges in the world, with Litecoin (LTC) recording especially significant gains and showing signs of a bright future. Specifically, the increases that the price of Litecoin […]<\/p>\n","protected":false},"author":1,"featured_media":37190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[528,199,262,1943,1142],"class_list":["post-37189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-breakout","tag-litecoin","tag-ltc","tag-successful","tag-targets"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/Litecoin-LTC-targets-100-after-successful-breakout.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37189"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37189\/revisions"}],"predecessor-version":[{"id":37191,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37189\/revisions\/37191"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37190"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37189"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}