Home » Litecoin (LTC) Soaring High

Litecoin (LTC) Soaring High

by Brian Armstrong
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Litecoin token price has reached its all-time high since June 2018, quickly closing through its $185 resistance; however, the experts believe that the price correction would happen anytime soon.

Litecoin has rallied in recent times and reached around $150.

LTC Price Surges Rapidly

On Monday, Litecoin traded around 10 percent more at $155, which indicates that the altcoins are also rallying as Bitcoins get stronger each day. Ever since Bitcoin started rallying on various exchanges, the alternatives to Bitcoins have also flourished.

Even though the current rallying is impressive, it can bring in the risk of very sharp corrections as per the Head of FX strategy, John Hardy

As shown by the Weekly Chart, Litecoin has reached $145 highs and touching the $186 and $225 threshold with the resistance levels of .5 and .618 Fib retracement levels. As the indicators remain bullish, there is a probability of breaking out or reaching the resistance levels. Crypto experts believe that LTC would showcase a substantial upward movement after surpassing the $140 resistance area.

Litecoin was created by Charles Lee for fast transactions and payment settlement and has a good reputation in the market; even some analysts believe that if Bitcoin is digital gold Litecoin can become silver. Litecoin structure and fundamentals make it an excellent choice for crypto investors. As the team is bringing in newer features like MimbleWimble( a privacy solution), the altcoin may see some substantial growth.

In 2020, the price of Litecoin had rallied on several occasions, showcasing a substantial increase within short periods of time. From January 1, 2020, to February 15, 2021, the price of Litecoin increased from $42 to &77. Even in times of Coronavirus pandemic outbreak onset, the LTC recovered after the March crash. Around July, the LTC price movement was sharp, taking the price to $60; since November 2020, the cost of LTC began to surge massively. In December, as Bitcoin crossed its $20000 benchmark and started to rally, the alternatives to Bitcoin like Dogecoin, Litecoin also began to rally as the experts believe that the altcoins are directly connected to Bitcoin and the price action of altcoins works according to bitcoin bear and bull cycles.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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