Litecoin (LTC)) began today’s trading session on the green. After experiencing a slump over the past few weeks, the coin appears to be rallying. But despite this, Litecoin (LTC) still remains very volatile and it could fall back to $95 in the short term. However, here are some highlights:
- At the time of writing, Litecoin (LTC) was trading at $107.77, up around 5% in 24-hour intraday trading.
- The coin seems on track to retest its overhead resistance of $112 in the coming days.
- However, other indicators suggest that Litecoin (LTC) may fall back to $95 before rising again.
Litecoin (LTC) – Price Prediction
For most of 2022, Litecoin (LTC) has been in the bear market. But despite this, the token managed to hit highs of $152 this year in an unusually odd bullish push.
It turned out to be a short run as we saw a steady drop. Litecoin (LTC) is now trading at $107, up around 5% in 24 hours. We see the token retesting the $112 resistance, but it is highly unlikely to break that.
As a result, more downward pressure is occurring which will take it back to its $95 support. Furthermore, the sentiment in the crypto market remains very gloomy even though it has improved slightly over the past few days.
Should You Buy Litecoin (LTC)?
The big answer is yes. Litecoin is one of the most remarkable tokens with incredible fundamentals. He has also shown great consistency in terms of growth.
So, for people who want decent coins for long-term value, Litecoin (LTC) will always be at the top of the list. But recent bear pressure has wiped out a lot of value here. With the price action expected to drop further, it would be best to wait a few days before entering.