Litecoin (LTC) has made a surprising breakaway even as the greater crypto market struggles to post gains, surging from its 22nd high on November 22nd and gaining more than 27% in the last 48 hours. Currently sitting at $78. The question is, is there more bullish juice left in it or will there be a bullish improvement after the latest pump?
It depends on both technical and fundamental factors. On the technical side, LTC broke out of its horizontal range since last week, well above key resistance and support at $70.
On the fundamental side, there are clearly macroeconomic factors driving the broader crypto market at the moment, including an overall bearish market trend and ftx result,
Let’s take a look at some of the key support and resistance areas for Litecoin to get an idea of what is possible in the short and medium term.
Litecoin Price Prediction and Technical Analysis
Litecoin is currently up 12% over the past 24 hours, reaching 27% at one point, while bitcoin is only up 1.5%.
Although we broke the resistance near $70, LTC failed to surpass the $80 mark, indicating that a more significant push may be needed to reach the $100 mark. If we close the day at or above $79, it could be a bullish signal for the cryptocurrency.
The $100 area has been a key support several times since January before breaking below this level in May. If it manages to break above this level, LTC can easily reach $143, with the next target around $300 thereafter.
$143 also has historical significance. In February this year, the $143 level acted as support, as it did in September and December 2021, while back in June 2019, this level acted as resistance.
Is It Time To Exit Litecoin?
If the LTC price closes for the day near where it is now, then indicators such as a Downward RSI trend This suggests that it will experience a bearish divergence, which could signal a downside reversal.
As mentioned, the first support level is near $73.76. If this support fails to hold, there is no clear support till $40. LTC has been between $40 and $74 since May, so it is possible that the price will remain between these levels, making it difficult for the bulls to control the market.
Ultimately, LTC investors will want assess their risk tolerance And decide if it’s time to exit Litecoin. There is no guarantee that LTC will break the $100 mark until 2023 or even surpass the $80 resistance level in the near term.
Still with the big crypto market FTX disaster and Possible bankruptcy of other major players in the marketThis may be a good time to explore other projects that haven’t pumped in yet or consider going cash in until the market settles down.
Other cryptos provide short term gains
A good way to get into a coin before it goes up in price is to buy into the pre-sale of projects with good fundamentals. D2T, TARO, and RIA are three projects that have already raised a significant amount of capital in their pre-sales and are poised for future growth.
Dash 2 Trade (D2T)
Launching in Q2 2023, Dash 2 Trade is a trading intelligence platform for investors that will provide real-time analytics and social trading data. D2T has raised $6.9 million, with listings on the BitMart Exchange and LBANK Exchange planned for early next year.
Robotera (Tarot)
RobotEra, an Ethereum-based sandbox metaverse, is scheduled to launch its alpha version in the first quarter of 2023. Players will be able to build and play as robots and participate in building a virtual world that includes NFT-based land, buildings and other items. TARO is currently trading at 0.02 USDT and this price will increase to 0.025 USDT in the next phase of its pre-sale.
Calvaria (RIA)
Calvaria is a blockchain-based card-trading game that enables players to battle with their NFT cards and earn rewards. RIA will be used for purchasing in-game items and staking within the game. Its token pre-sale has raised $1.9 million and is currently in its fourth phase, during which 40 RIAs are available for 1 USDT.
All these projects have already raised a significant amount of capital in their pre-sales and are set to launch in the near future. Join now and be a part of their success stories.
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