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Litecoin course reaches new up of over $ 113 - will the forecast of $ 1,000 continue to be valid?
Litecoin (LTC) has recorded a strong upward movement in recent months. After the price had fallen to a low of approx. $ 40.50, it recently rose to over $ 113. This corresponds to an increase of 180 %. In view of this development, many are wondering whether this is only the beginning of an even greater rally. It seems that investors on the market are increasingly positive. If the market actually transfers to a bull market, LTC could certainly benefit from it. Especially when new investors are looking for established alternatives to Bitcoin, the narrative of the "digital silver" could be revived. The current ...
Litecoin course reaches new up of over $ 113 - will the forecast of $ 1,000 continue to be valid?
litecoin (LTC) has recorded a strong upward movement in the past few months. After the price had fallen to a low of approx. $ 40.50, it recently rose to over $ 113. This corresponds to an increase of 180 %. In view of this development, many are wondering whether this is only the beginning of an even greater rally.
It seems that investors are increasingly positive on the market. If the market actually transfers to a bull market, LTC could certainly benefit from it. Especially when new investors are looking for established alternatives to Bitcoin, the narrative of the "digital silver" could be revived.
The current increase in price from LTC has attracted attention, and many are wondering which long -term trend this could mean. A closer look at the chart indicates that LTC is currently in a corrective phase. The last high of over $ 113 could be part of this correction and indicates further downward movements.
There is a possibility that LTC will train a running or expanded flat. The target zones for these two structures are between $ 65 and $ 80 and between $ 46 and $ 55. Interestingly, the Litecoin course in the past reached its peak around 7 weeks before Litecoin Halving. The next Halving is planned for August 5, which the last one places about 7 weeks before this date.
There is also the possibility that LTC forms a triangle formation, although a flat is statistically more likely. In the short term, the prices of LTC could fall to the level of $ 46 to $ 55 before the corrective phase is complete.
However, it is difficult to derive an exact price forecast for LTC, since the end of the current correction is not yet foreseeable. With an Expanded Flat, the prices could be around $ 50, while a breakthrough of the $ 400 mark would be possible during a trend movement in the form of a pulse shaft.The question of whether the Litecoin forecast of $ 1,000 is still realistic depends on how the long -term trend develops. In the current upward structure of the weekly chart, it looks more like a corrective Zigzag. Nevertheless, the price goal for LTC remains imaginable.
In summary, it can be expected that the prices of LTC will continue to fall in the next few weeks. This is also supported by the price behavior before past Litecoin Halvings. In the medium term, however, LTC probably has further upward potential, depending on the type of upward structure.
It remains to be seen whether LTC will record a parabolic increase. Personally, I currently stay careful and watch the market closely. I am also not fundamentally convinced by LTC, although a large influx of new investors could make the Litecoin forecast of $ 1,000 possible. After all, not only the fundamentals, but also the narrative, and Charlie Lee knows how he can successfully market his product.