Litecoin Price Prediction as LTC Gains 2.16% in 24 Hours – Can This Uptrend Continue?
The Litecoin price has risen by 2% in the past 24 hours, reaching $70.94 as the cryptocurrency market gains by 2.5% today.
LTC is now up by 2% in a week and by 4% in the last 30 days, with the altcoin also having risen by a very modest 1% since the beginning of the year.
While most major tokens overshadowing this year-to-date performance by a wide margin, LTC’s underperformance potentially means that it could rise faster than many other coins in the coming weeks.
This is especially the case if 2024 brings a bull market, with LTC aiming to return to its all-time high of $410, set in May 2021.
What’s encouraging about LTC at the moment is that it has spent the past couple of weeks falling, meaning that a sustained a rally could be approaching.
Its RSI (purple) had been struggling to move beyond 50 since the middle of November, yet it has now clear this level and looks to rise to 60 (and beyond) on the way to further price gains.
Even more tellingly, LTC’s 30-day average (yellow) has languished below its 200-day (blue) for numerous months, something which suggests that a prolonged rally is now overdue.
However, it’s hard to say when exactly this might come, given that the altcoin’s 24-hour trading volume remains relatively subdued, at around $250 million.
This is much lower than the levels it saw earlier in November, when it reached a volume of $1 billion.
And it seems that any whales interested in LTC have been likelier to sell the coin than buy it, judging by available.
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