Price Analysis

Litecoin (LTC) Price Analysis: Can The Most-awaited Moment, LTC Halving Change The Course?

  • Investors are looking at Litecoin’s halving event in anticipation of a price rally of altcoins.
  • The bullish medium-term places the coin at probably 150 USD target.

Amidst the stories of high growth of market leader Bitcoin, the performance of altcoins has probably been ignored partially if not completely. Altcoins do not have the attached goodwill with them, and they try to enlarge their base by associations and partnerships. But another event which put them in the limelight is halving. Litecoin’s halving is just two months away, and the whole market is keeping its eyes on the 5th largest crypto coin. It should be noted that the last time Litecoin was halved; it brought a mini price rally season to the market which was celebrated as alt season. There is a possible reaction this time as well. The value of each Litecoin (LTC) is likely to reach 150 USD by the end of 2019. We should now analyze the current details of the coin to understand its growth pattern.

Litecoin Price Current Statistics:

Litecoin (LTC)04th June 02:59 UTC
Rank05th
ROI (Return on Investment)2,359.17%
Coin Circulation62,067,251 LTC
Market Cap6,557,594,477 USD
Litecoin Value in USD104.57 USD
LTC Price in BTC0.01317823 BTC
24h Volume4,012,004,436 USD

LTC Price Comparison:

litecoin price chart - 04 June

After a huge fall in the last months of 2018, Litecoin value gained some points at the starting of the year. The lowest point of the coin was on 13th January at 29.96 USD. However, a huge rise can be noticed on 24th February when the coin gained 107.49% in 41 days. The market cap of Litecoin on 04th May was 4,792,151,296 USD, and the value of each coin was 77.30 USD. The current market cap and the value of each coin are respectively 36.84% and 35.27% more than the figures for last month.

Litecoin Price Prediction:

Litecoin price is likely to face two resistances at 120 USD and 130 USD. And these resistance levels will be there in the near future. The investors should aim for a minimum of 150 USD target.

Conclusion:

Buying fresh Litecoins will be an economical decision. Long-term holding will give unexpected results to the investors. But the investors need to keep patience when the coin encounters with short-term falls.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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