Litecoin price has seen an incredible rise over the past 24 hours, gaining 10% in value, with trading volume exceeding $1.8 billion. This recent price action follows months of consolidation at the $55 level.
Litecoin Price Prediction
At the time of writing, LTC is trading just above $60, a zone that has served as resistance on several occasions before.
LTC’s relative strength index (blue) has risen considerably from 39 just a few days ago to 68, indicating strong positive momentum. This price action could continue until the RSI breaches past 70 and enters overbought territory.
At the same time, ADA’s 200-Day Moving Average (red) sits directly above the current price. This is the most significant resistance level for LTC – above which there is potential for a substantial rally toward the $125 region. LTC needs to break out above this level and consolidate for a few days before it can make such a move.
This recent move comes after leading global payments network MoneyGram announced that users can now buy, sell and hold some major cryptocurrencies – including LTC.
Despite these positive developments, it’s worth noting that the Federal Reserve will soon reveal its interest rate decision which can impact the global markets.
The Fed is expected to hike interest rates by 75 basis points, and this may lead to a sell-off in risk-on assets such as tech stocks and cryptos – at least in the short term. Conversely, a smaller rate hike has the potential to cause global equities markets to rally.
Immediate support and resistance can be found around the $55 and $65 levels, respectively.
3 Altcoins Offering Bigger Gains?
Litecoin is a well-established altcoin with a huge market cap above $4 billion. This means that any rally will provide limited returns for investors. A number of crypto users have begun looking at presales for better returns, as they have been doing particularly well this year.
For example, Tamadoge (TAMA) raised $19 million during its presale in September before going on to post a return of 1,800% (compared to its presale price) after listing on OKX. These gains are unimaginable for a coin of LTC’s size.
While TAMA’s presale has now ended, there are a number of other ongoing presales worth checking out.
Dash 2 Trade (D2T)
Dash 2 Trade, is an Ethereum-based trading intelligence platform that provides users with real-time trading signals and analytics in order to help them make more informed investment decisions. It launched its presale last week and has already raised over $4.2 million, while also confirming its first CEX listing on LBank Exchange.
D2T currently sells for 0.05 USDT, but this price will go up to 0.0513 in the next presale stage.
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Another interesting project is IMPT. Also based on Ethereum, IMPT is developing a carbon credit marketplace where users can earn NFT-based carbon offsets for shopping with a wide range of eco-friendly retailers such as Microsoft, Macy’s, and River Island.
IMPT’s presale has now raised just under $12 million a few weeks after launching. This is perhaps due to its strong fundamentals and the lucrative industry it is targeting. If other presales are anything to go by, this one is likely to do very well once the first few exchange listings come through.
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Lastly, Calvaria (RIA) is a play-to-earn game that lets players earn and battle with NFT-based collectible cards. What distinguishes it from other blockchain-based games is that users can play it without having to hold any cryptocurrency, something which makes it more accessible than other gaming projects.
Its presale has just launched and has raised over $1.1 million, giving traders the opportunity to invest in a project really early in its lifecycle.
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