367
154 shares, 367 points

The price of the popular altcoin Litecoin is trading at $ 325, with a 14% return in the past 24 hours at the time of writing. However, according to a cryptocurrency trader, the Litecoin price will run so hard that it will mentally affect those who fall behind.

LTC continually makes new highs on daily chart | Source: Tragview

Trader: I don’t believe we’ll see $ 7,000 this year for the popular altcoin

Experienced cryptocurrency trader Julio_LTC gives a strong price target for LTC. The analyst is very optimistic that the LTC has exceeded a measured Relative Strength Index (RSI). This metric is used to evaluate price momentum within a lower timeframe. If the price action is invalidated, LTC could move towards a critical support level of $ 218.

LTC with support of $ 280 and a price target of $ 7,000 | Source: Julio_LTC

According to this analyst, LTC seems to be related to the performance of Ethereum rather than Bitcoin. As a result, according to Julio_LTC, Litecoin’s bullish momentum could cool or increase further if ETH continues the bullish train. According to Julio_LTC, if LTC reaches its target, it could see a stronger momentum towards a higher price. Trader said the following on the subject:

I don’t believe we’ll see $ 7,000 this year, but LTC’s $ 3,000-5. I also believe it could fall within the $ 000 range. LTC is a late crypto player. Litecoin will work so hard that it will mentally affect those who are left behind. The bags are packaged and ready to be launched. The BTC couple is telling a story and I want us all to be part of that story.

Source: InthoTheBlock

Analisdollarser: For the performance of LTC, investors should closely monitor the performance of ETH.

On-chain activity showed mixed signals in Litecoin’s network transaction volume. However, the number of addresses received reached the highest level of a month on May 3 with 12.771. As the chart shows, if LTC recovers, a major resistance between $ 332 and $ 340 is likely. As stated before, for the performance of LTC, investors should closely monitor the performance of ETH.


Like it? Share with your friends!

367
154 shares, 367 points

What's Your Reaction?

hate hate
1104
hate
confused confused
613
confused
fail fail
245
fail
fun fun
122
fun
geeky geeky
1226
geeky
love love
858
love
lol lol
981
lol
omg omg
613
omg
win win
245
win

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format