There is a new price prediction for Litecoin out. Take a look at the latest reports about this below.
LTC price prediction is out
At the moment of writing this article, LTC is trading in the green, and the coin is priced at $89.51.
Ann important crypto trader is weighing in on the prospects of Litecoin (LTC), Bitcoin (BTC), and Ethereum (ETH) moving forward.
As per Bluntz, an anonymous analyst, Litecoin is presently in a consolidation phase and could potentially see a breakout soon. Bluntz is of the opinion that the upcoming Litecoin halving event is likely to keep the altcoin bullish. The third Litecoin halving is scheduled to take place in approximately two months.
“Solid high timeframe contraction happening on LTC. I think the halving narrative keeps this one propped up.”
Regarding Bitcoin and Ethereum, he suggests that the two leading cryptocurrencies could encounter a phase of range-bound trading before a potential decline. Nonetheless, Bluntz also points out that this downturn might occur gradually over time.
“So far, lows holding on both BTC and ETH. Wouldn’t be surprised to see a more longer drawn-out channel/bear flag play out here, doesn’t quite look like a breakdown is imminent just yet.”
Litecoin price booster
Santiment said that the upcoming LTC20 halving, which cuts the amount of newly issued coins to miners in half, is expected to have a positive impact on the price of Litecoin.
Santiment says Litecoin’s on-chain volume is trending upwards rapidly, and will bode well for the price if it continues.
“If this trend of increased on-chain volume continues, it will absolutely be a strong sign that some big players are beginning to jump in on their LTC investments in anticipation of the halving. Similarly, the amount of unique addresses interacting on the Litecoin network absolutely skyrocketed, suddenly reaching a greater than one-year high just as its price was bottoming out.”
