Our Litecoin price prediction suggests a bullish move could be around the corner. On Friday, LTC price tanked with the rest of the markets as Bitcoin price broke below $45,000. At the time of writing, Litecoin price is retesting the trendline after a bullish breakout. A confirmation of this breakout could send LTC to USD price to $169 in the short term. If bulls gain enough momentum, $227 could also become a valid price prediction for summer 2022.
Litecoin is one of the oldest cryptocurrencies in the crypto space. Although Litecoin was once a top 3 crypto asset, the coin has now slid to 22nd place. Nevertheless, many long-term holders are still bullish on the price owing to the recent MWEB upgrade. This Mimblewimble upgrade has reportedly added the optional privacy feature on the network.
It is important to note that most of the bullish Litecoin price predictions were based on this upgrade. However, the LTC price didn’t react much leading up to the upgrade that went live at the start of 2022. The decreasing interest by retail investors is also making the long-term holders question their decision. LTC to USD price is $124 at the time of writing.
Technical Analysis of Litecoin price chart shows that the coin has broken out of the downtrend. However, the price faced rejection from the $134 region as the Bitcoin price also fell from $48,000. This also shows the correlation of any Litecoin price prediction with BTC price. If LTC price confirms the breakout and holds the $119 level, then a huge bullish move could be on the cards.
Such a bullish move could give bulls enough control to target 200 EMA at $143. If there is enough momentum, then bulls might also target $169 in the next few months. A Litecoin price prediction of $227 also seems probable in 2022. This is also a 0.618 Fib retracement level from November 2021 highs to the recent lows. Of course, this LTC price analysis would be out of the window if Litecoin price dips below $90 once again.
This post was last modified on %s = human-readable time difference 18:27