Given the increase in the price of Litecoin, pseudonymous crypto trading expert Rekt Capital noted on November 23 that the monthly close for LTC needs to hold above $67 for the cryptocurrency to continue moving higher in December based on the previous upside wicks: Rekt added: At the same time, given its bullish momentum, LTC/BTC trade has broken out from a macro downtrend dating back to January 2020.
Can Litecoin reach $100?
Elsewhere, prominent crypto analyst Altcoin Sherpa noted that after flipping the 200-day exponential moving average (EMA), the next level up for LTC would be $100 if it continues its upward momentum. Meanwhile, with the sudden surge in the asset, the crypto social intelligence platform pointed out that on November 22, social engagements reached their highest level in over a year: Despite the interest around the asset, Finbold reported that the Litecoin community on CoinMarketCap remains bearish on the coin, projecting LTC will trade at an average price of $58.36 by December 31, 2022. Currently, LTC is trading at $10.23, up 11.2% in the last 24 hours, as per Finbold data at the time of publication. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
