Litecoin Price Prediction as LTC Blasts Up 22% in a Week – Can LTC Reach $1,000?

LTC Chart / Source: TradingView

Litecoin (LTC), the cryptocurrency that powers the decentralized payments-focused Litecoin blockchain, is consolidating slightly below $110 after hitting its highest stage in over a 12 months earlier in the session at $113.61.

As per crypto value information web site CoinGecko, LTC is up a formidable 22% in the final seven days, making it the eighth best-performing cryptocurrency in the highest 100 by market cap over this era.

Despite having now rebounded greater than 50% from June’s lows near $70 per token, Litecoin value predictions stay bullish.

Litecoin was not too long ago listed on one of many hottest new US cryptocurrency exchanges EDX Markets.

EDX Markets, which solely simply launched, is backed by a variety of main monetary establishments, together with Fidelity, Charles Schwab and Citidel.

Observers anticipate that the change, which solely lists 4 cryptocurrencies in the mean time, will probably be regarded on extra favorably by regulators than others like Coinbase and Binance, each of which had been not too long ago sued by the SEC.

That helps add legitimacy to the cryptocurrencies, like Litecoin, that commerce on this change and will assist propel their institutional adoption.

This, coupled with the bullish development in bitcoin, could possibly be an ongoing tailwind for Litecoin.

Meanwhile, traders are additionally getting enthusiastic about one other doubtlessly bullish upcoming catalyst for Litecoin – its upcoming halving.

In simply over 30 days, the block reward for miners will probably be halved from 12.5 LTC to six.25 LTC, basically halving Litecoin’s inflation fee.

Anticipation forward of this occasion is clear in surging on-chain exercise on the Litecoin blockchain, which processed 1 million transactions in the week as much as the 29th of June.

Price Prediction – Where Next for Litecoin (LTC)?

“Litecoin looks great” mentioned standard crypto analyst Michael van de Poppe in a current tweet.

Behind his evaluation is the truth that the cryptocurrency not too long ago broke above its 200 weekly Moving Average (MA) and Exponential Moving Average (EMA), as effectively as $100 resistance.

His bullish targets are $180 and $250, representing good points of 65% and 130% respectively from present ranges.

Other technical indicators additionally help van de Poppe’s bullish thesis.

LTC’s rebound from its June lows confirmed that an uptrend that started in mid-2022 stays intact.

Meanwhile, the current pop larger marked a bullish breakout from a long-term pennant construction.

The nearest main long-term resistance areas that bulls will probably be focusing on are round $134 and $143.

Can Litecoin (LTC) Reach $1000?

At the present value of simply over $100, Litecoin would wish to just about 10x in order to achieve $1000 per token.

Is that doable?

Well, given the cryptocurrency’s market cap is simply round $8 billion, the room for potential upside is large.

If Litecoin 10xed from present ranges, its market cap would nonetheless solely be round $80 billion, solely round 13.3% of bitcoin’s present market cap of near $600 billion.

As present crypto bull market matures and narratives such as Litecoin (LTC) being the “silver” to bitcoin’s “digital gold” acquire floor, Litecoin has a robust probability of posting not less than 10x good points and reaching $1000.

Litecoin (LTC) Alternative to Consider

Investors ought to all the time be looking out to diversify their crypto holdings.

One high-risk-high-reward funding technique that some traders may wish to contemplate is getting concerned in crypto presales.

This is the place traders purchase the tokens of up-start crypto initiatives to assist fund their improvement.

These tokens are practically all the time bought very low cost and there may be a lengthy historical past of presales delivering large exponential good points to early traders.

Many of those initiatives have improbable groups behind them and a nice imaginative and prescient to ship a revolutionary crypto software/platform.

If an investor can determine such initiatives, the danger/reward of their presale funding is superb.

The staff at Cryptonews spends a lot of time combing by means of presale initiatives to assist traders out.

One such mission that they suppose has a lot of potential is a inexperienced web3 start-up known as ecoterra.

Ecoterra – First-of-its-kind Recycle-to-Earn (R2E) Platform

As outlined in the mission’s whitepaper, ecoterra is constructing an all-in-one $ECOTERRA-powered inexperienced web3 ecosystem, designed to encourage recycling by way of its first-of-its-kind Recycle-to-Earn (R2E) app. 

The platform will even facilitate commerce in recycled supplies and encourage people and companies to offset their carbon footprint.

And the mission’s presale of its native $ECOTERRA token has been completely flying.

Sales not too long ago surpassed $5.7 million, a robust vote of confidence from the crypto-investing group in the mission’s imaginative and prescient.

Observers anticipate the tempo of the presale to choose up now that the mission is accepting invites for customers to check out a demo model of the flagship R2E software.

Nascent inexperienced Web3 initiatives such as ecoterra are anticipated to play an more and more necessary position in international efforts to handle local weather change in the a long time forward, as crypto’s broader adoption will increase.

Visit Ecoterra Here

Time to Buy $ECOTERRA?

Investors don’t have any time to lose in the event that they wish to safe their $ECOTERRA bag at a favorable value.

That’s as a result of the presale will finish when ecoterra’s presale hits $6.7 million, a milestone that could possibly be hit in a matter of weeks given the tempo at which $ECOTERRA has been promoting not too long ago.

$ECOTERRA will then launch throughout main crypto exchanges subsequent quarter, with many analysts predicting large upside for the token as a broader investor base rushes into to safe one of many crypto trade’s most promising inexperienced crypto tokens.

Investors can at present safe $ECOTERRA tokens at a value of $0.01 every and get a 10% bonus.

Buy $ECOTERRA Here

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