LTC Price Break Resistance And Enters Ascending Triangle: How High It Might Get In October?

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Wed, 10/09/2019 - 12:22
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    Litecoin (LTC) price is on the way to new breakouts! What to expect from LTC in October and the nearest weeks? Read LTC price predictions from TradingView

Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Litecoin has recently managed to overcome the $57 resistance, which is a very good sign! Traders believe it means LTC is set up for skyrocketing, but how high is its potency? Let’s read LTC price prediction from TradingView that explains the Litecoin’s possibilities.

LTC price will skyrocket
Litecoin (LTC) price chart by TradingView

Earlier this year, Litecoin (LTC) was by far, one of the best performers in the crypto space. It yielded +400% returns in the first half of 2019, outperforming BTC and the market as a whole. Starting in early July, things took a turn for the worse and LTC lost over half its value settling in the $58 range.

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Looking at the long term trend of LTC, we can see that volatility is a normal thing. This is mostly due to the highly speculative price of this digital asset. After looking at the long term pattern LTC is forming, it’s starting to take the shape of a bullish flag, although it’s still too early to know for sure. LTC is sitting on some solid support with the RSI showing bullish divergence, so keep an eye out for a reversal.

If Litecoin continues going in the ascending line, it might easily overcome the $60-70 resistance during October and continue reaching new heights. In November-December, LTC could even reach $100 threshold, if the bullish market will be thriving.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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