Litecoin (LTC) has been surging. The cryptocurrency finally broke its all-time high of 2018 by establishing a new ATH at $412. At the time of writing, LTC crypto stands at a price level of $402. The price has increased by 15% in the past twenty-four hours while the daily trading volume has surged up by nearly 100%. Litecoin (LTC) is showing increased bullish divergence which can lead the coin even higher. Litecoin has had almost 550% gains in the yearly timeframe. The crypto has been regarded as the relatively stable one but that may be reversed given its recent surge.
Litecoin (LTC) technical analysis
The market sentiment for LTC coin is bullish. Out of the 26 technical indicators, sixteen stand at a position of buy while seven are standing at a neutral position with just three indications of sell. The oscillators are neutral while the moving averages are strongly bullish.
A trader has set a price target of $450 followed by $500 for Litecoin in his price prediction. The trader has identified various crucial levels for the cryptocurrency which hints towards increased bullish divergence. The trader has identified the price level of $355 as crucial support level. If LTC crypto falls below the level it can enter a support zone in the hopes of stabilization but the fall would entail the rising pressure of the bears. A green zone lies above the price level of $355. The green zone is a signal of strong bullish divergence which could ultimately lead LTC coin towards the set price targets.
Litecoin (LTC) price prediction
Trading beasts’ forecasts are not bullish on the cryptocurrency and suggests a price of $260 by the end of the year. However, Wallet Investor has validated the price target of $450 as it is the value expected for LTC coin by the end of 2021. The 5-year forecast places Litecoin at a price level of nearly $700. Digital Coin Price is predicting Litecoin to have a price of $585 in 2021 while the 5-year projection shows Litecoin at $1,838.