Litecoin (LTC) All Set for New Highs, Maintains Upward Trend

Litecoin (LTC) All Set for New Highs, Maintains Upward Trend

  • The asset saw complete parabolic growth and reached $412 per share.
  • The LTC price may surpass the objective of $700-750.

Many crypto assets had a wild journey in 2021 as most altcoins rose and fell by wide percentages. However, Litecoin, Bitcoin’s sibling, kept a steady pace without extremes. It is now seeking to break the extended consolidation and trading around its ATH of $412.96.

Since May, Litecoin has been aggressively stabilizing, with just a slight movement occurring in July. However, a recent increase in liquidity has caused the price of LTC to climb. The goal, on the other hand, is much ahead of the current ATH.

LTC/USDT: Source: TradingView

After soaring to over $350 during the last Bull Run in 2018, the asset began to fall precipitously. During the current surge, the asset saw complete parabolic growth and reached $412 per share. Since the beginning of 2018, the price has developed a large cup and handle pattern. It’s possible that the price may test the lower levels around $170 before completing the pattern.

Huge Surge of Over $500 Price Level

To test the pattern’s neckline, the asset must rise to roughly $356. A successful violation of these levels may spark a huge surge of over $500. In a severe bull run, the LTC price may surpass the objective of $700-750.

So for months, LTC’s price trended extremely narrowly, unable to attract stronger investors. Litecoin, while being the first altcoin, is still the most undervalued asset compared to Bitcoin or Ethereum. According to CoinMarketCap, the Litecoin price today is $288.78 USD with a 24-hour trading volume of $7,565,560,435 USD.

The post has appeared first on thenewscrypto.com

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