Litecoin (LTC) Still Bullish With Anchoring The Cryptocurrency Market

The digital silver Litecoin (LTC) has moved up by over 150% within the last 4 months with the beginning of 2019. In today’s Litecoin technical analysis, the Litecoin price prediction is still positive as LTC serves as an anchor that supports the Bitcoin bull run. People stopped asking how low will Litecoin go and have started looking for the positive Litecoin price prediction 2019 because they see the bull run.

Today’s Litecoin price prediction 2019 shows that digital silver is one of the anchors that is leading the bull market. This isn’t a surprise as the Litecoin technical analysis has been bullish since December.

Litecoin Price Prediction 2019: Litecoin Against The USD And Bitcoin

At the time of writing, the Litecoin price was correcting lower against the USD after crossing the $62 resistance level and falling below it again. It is trading at $61.02. This means that it is down by 0.22% against the USD and down by 0.18% against BTC. The trading volume over a 24 hour period is $1,784,996,973 and the market capitalization is $3,729,196,124 per CoinMarketcap.com.

The most significant Litecoin trading volume is coming from Coineal followed by DigFinex, FCoin and Coinall. So, if you’re among those who have been asking questions like; how low will Litecoin go, will Litecoin recover or when will Litecoin recover, it’s time to relax as the Litecoin price prediction 2019 is already bullish. Litecoin has already started recovering and has been predicted to be higher than $650 before the Litecoin halving.

Right now, Litecoin has found support at $54.57. It is crucial that it stays above this level for the Litecoin price prediction 2019 to remain positive against the USD. The relative strength index of Litecoin is currently in the bearish territory short-term but this doesn’t mean the Litecoin technical analysis today is bearish.

Litecoin Prediction 2019: Why is Litecoin Rising?

Apart from the obvious reason behind the positive Litecoin price prediction 2019 which is the upcoming Litecoin halving, there are other reasons why Litecoin is rising. The Litecoin cryptocurrency news has been positive for months now. The Litecoin Foundation has made a lot of progress in securing partnerships and making the Litecoin network better.

Litecoin (LTC) Price Today – LTC / USD

Name Price24H (%)
Bitcoin (BTC)
$7,542.57
2.30%
Litecoin (LTC)
$45.76
3.32%

One of the most significant improvements that would change the game for Litecoin is the privacy protocol update. With this update, Litecoin will become a privacy coin. This isn’t just going to drive adoption but it will also help the price of Litecoin surge against the USD and maintain relative stability. The next few trading sessions will determine if the price action of Litecoin (LTC) will change.

Litecoin (LTC) Close to Its All-Time High Hash Rate

According to Ambcrypto; Jason A.Williams, Co-founder of Morgan Creek Digital, recently shared a post on Twitter which predicted that Litecoin’s price could rise to $650 by May 2019. The price prediction was given out by the notable crypto-analyst, @ScienceGuy9489.

At press time, Litecoin’s price was rising, as was its hash rate which was close to its all-time high. The hash rate recorded was 321.35 TH/s, very close to the all-time high of 342.88 TH/s recorded in May 2018.

The price valuation of Litecoin rose by three times since the start of 2019. It has since shown minimal signs of slowing down. At press time, the coin was valued at $61.77 and had strong support at $60.

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Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.