- Cryptocurrency Analysts have predicted more growth for Litecoin
- The digital asset managed to cross to the $45 mark
- The digital asset moved in correlation with BTC’s price action
Litecoin news today – The digital asset market has been moving on either side (bearish/bullish) since the novel coronavirus hit the world. This time around the exact outcome of any present price action has become difficult to determine considering the factors in play. Litecoin’s price is back up now and analysts have become bullish for the digital asset when only a few days ago they were uncertain about how the coin will look in the long-term. Now that Bitcoin price has increased to the $7.795 mark, all of the other top assets are following. Litecoin price is reporting gains as well. As of when this content was published, the price of Litecoin was changing hands at $45.16. The coin is now up by 2.25% in the last 24-hours of trade.
Litecoin price Prediction – LTC’s Price to Continue its Upward Move After New Found Momentum
According to Alex Clay’s Litecoin analysis, it will appear that the digital asset is set to continue its price recovery. The Litecoin price will maintain the current upward bullish trajectory. It is no secret that the coin’s current fundamentals are looking good. After all, it just gained 2.25% in the last 24-hours. As the digital currency analyst has stated, the price of Litecoin has already broken through the current channel middle pattern (situated in an upward arc). This is a strong indication of an opportunity for investors to go for the long position. The digital currency commentator has set his LTC price targets within the ranges of $44.62 and $45.36.
Litecoin (LTC) Price Today – LTC / USD
Likewise, another digital currency analyst David Smith presented an optimistic prediction as well. According to his analysis, LTC has formed a bullish flag. If the price of Litecoin can break through the higher boundary and this pattern is confirmed, then LTC can post further gains in the near-term outlook. The analyst also set several price targets for LTC ranging from the $45.70 mark to $47.70 area. Recently, another prominent market researcher known as Charles Edwards said everything about Bitcoin’s fundamentals suggests that this is the perfect time to buy the asset (just ahead of the halving event scheduled to commence on Monday, May 11). The upcoming BTC halving is expected to initiate an impressive price rally for Bitcoin and digital assets. After Bitcoin’s previous halving in 2015, the coin saw a 93% growth by year-end. If the same thing happens now and history is repeated, then the price of Bitcoin could be changing hands at the $15,000 (months after the halving).