Litecoin Price Prediction – Can LTC Reach $100 After 8% Rise?

Disclaimer: The ‘Industry Talk’ section contains contributions and insights from individuals active in the crypto world and is not part of Cryptonews.com’s editorial content.

Litecoin price outlook is bullish as the token broke through three-top resistance yesterday at $79. On November 6, Litecoin opened at $70.02. Today, one month later, the token trades at €75.39. The token is down 4.4% in the past 24 hours, after gaining 8% against $80.

In the last 24 hours, Litecoin had a high of €79.36 and a low of €75.22. In addition, it had a trading volume of €730 million. The market cap of the token is just over $5.4 billion at the time of writing. This makes Litecoin the 12th largest cryptocurrency.

The largest amount of ‘dormant’ tokens moved in 4 years

The cryptocurrency industry is currently booming as the sector recovers from the crisis caused by the FTX crash. Litecoin has also experienced a significant increase, namely more than 25% in a fortnight. This shows that there is potential for further growth in the future.

According to a December 5th tweet from an anonymous crypto trading expert named Bitcoin Bull, Litecoin’s recent price surge is a signal that the DeFi token may move towards $100.

Santiment, a cryptocurrency market intelligence platform, also sent out a tweet on December 5. According to this post, the largest amount of ‘dormant’ coins was moved three weeks ago in four years. In addition, there was a decrease in the ‘aging’ of the average crypto investment. Both factors are ingredients for a bullish breakout.

Additionally, the graph they tweeted shows that the drop in the number of ‘dormant’ tokens contributed to the rise above $79. Historically, the decrease in the number of ‘dormant’ tokens is a sign that there is more selling pressure on a token. However, Santiment’s analysis is not based on the direction of the LTC/USD pair.

The chart shows that an increase in Litecoin movement that has been stagnant for a long time has triggered a breakout.

A busy week ahead: The US Consumer Price Index for November will be released on December 13

The US Consumer Price Index (CPI) for November will be published on 13 December. The information released herewith will provide insight into the future movements of the stock and crypto markets.

In addition, unemployment data and the US producer price index (PPI) will also be released. This will lead to volatility in the market in the short term.

On December 9, the US Bureau of Labor Statistics will release PPI data for November 2022. On December 2, stock markets responded to labor market data and recovered from their intraday lows.

This showed that despite the latest unemployment data, the market does not expect the Fed to change its stance and cut interest rates.

While the FTX crisis has broken the link between Bitcoin and the stock markets, the recent rally in securities shows a risk-on mindset. This can have a positive effect on the crypto market and will encourage investors to buy Litecoin. The value of LTC will therefore soon be able to increase.

LTC Hashrate Reaches All-Time High

According to data from CoinWarz, LTC’s hash rate hit an all-time high on December 3rd with a hash rate of 61326.72 TH/s. After a dip in July, Litecoin’s hashrate rose 64% in just four months. In addition, the token reached its highest mining difficulty since December 3 with a block level of 2,379,925.

Currently, Litecoin’s network has a hash rate of 587.04 TH/s, a mining difficulty of 20.6 million, and a block level of 2,381,119.

Litecoin Price Forecast – Daily Technical Levels

Today’s supports are at 74.43, 73.14 and 72.55. In addition, the resistances are at 74.89, 76.10 and 77.66.

Litecoin Price Prediction – Can LTC Reach $100 In December After 8% Rise To $79?

LTC is currently bullish but has immediate resistance at $80.64. LTC has a limited upward trend due to a so-called doji candle. A bullish breakout of $80.64 would send the price up to $83.91.

Litecoin Chart USD

Additionally, both the RSI and MACD indicators indicate that there is a buying pressure on the LTC token. This allows Litecoin to focus on a new resistance at $88.20.

On the other side, there is immediate support at $73.14. When the token falls below this, it will fall even further towards €70.

The crypto market is therefore quite bearish at the moment with limited potential. Still, there are a number of coins with very high potential. We will explain a number of these coins below.

Dash 2 Trade (D2T)

Dash 2 Trade is a cryptocurrency analysis platform where users can substantiate their cryptocurrency investments through various advanced tools. These tools include an automated trading interface, sentiment analysis information, backtesting tools to test made strategies and many more.

These tools can be used through the Dash 2 Trade platform. Non-paying users get limited functionalities. The starter subscription can be purchased for an amount of 400 D2T. For 1000 D2T per month you get all the features of the premium subscription.

This continuous demand for the original token, D2T, makes it a very good investment with consistent usage. In addition, Dash 2 Trade is already being referred to as the Bloomberg terminal for the cryptocurrency. This makes it one of the best new cryptos at the moment.

D2T pre-sale

Currently, the token is in presale and has just started its fourth phase. One token costs €0.0533 USDT. This will increase to 0.0556 USDT each in the fifth phase.

The platform has already raised more than €8.7 million in pre-sales and that amount is still rising. It is therefore wise to buy D2T tokens in the presale as soon as possible before this phase is completed.

See the Dash 2 Trade presale here

Calvary (RIA)

Calvaria is a free-to-play play-to-earn gaming platform where players with a set of playing cards in combination with a good strategy fight against an opponent with a different deck of cards and a different strategy.

These decks are built with NFT battle cards. Each card has its own characteristics and in this way a strategy can be substantiated by matching cards. Because the cards are represented by NFTs, they are actually owned by the player and can be traded.

By buying better cards with the RIA token, a player has a better chance of winning against the opponent, thus winning RIA tokens again.

Currently, pre-sales have already raised more than €2 million and it is expected that this will quickly increase to €3 million. At that amount, the presale will most likely close and the token will be listed soon after.

See the pre-sale of Calvaria here

IMPT – One week left before this presale ends

Because IMPT establishes carbon credits on the blockchain, it makes an attempt to make the world a bit better by making the trading of carbon credits more transparent and efficient.

Previously, the system behind carbon credit trading was very vague and there was a lot of fraud. It was, for example, very opaque, and a piece of CO2 credit could be used by several companies. Because the CO2 credit at IMPT is located on the blockchain, each piece is unique and cannot be used multiple times.

Users of the IMPT platform can make purchases from a network of affiliated merchants and earn IMPT tokens. With these IMPT tokens, NFT CO2 credit can then be purchased as an investment or withdrawn from circulation and thus compensate for one’s own environmental impact. The platform can be used 24/7.

The revolutionary platform will end the presale of IMPT tokens on December 11, after which the token will be listed on several exchanges, including LBank and Changelly Pro. Currently, the presale of this sustainable crypto has raised more than €14 million and will therefore end soon.

See the pre-sale of IMPT here

Leave a Comment