LTC Price prediction Update: Experts Believe It Can Break Resistance Levels & Reach $200

It is not even 2 months, and the crypto community is going for a ride. So many things are happening as we reach the middle of this month. One of the most interesting events is how LTC surpasses its competitors. LTC, or Litecoin, is one of the forerunners of the spot exchange-traded fund or ETF. This is primarily due to its bullish tendency, which shows decent traction.  

In the last 24 hours, the overall value of LTC has gone up by 4%. This meteoric rise in the value just came in the last 24 hours. When writing this piece, the coin is traded at $126.85 with bullish tendencies. The coin’s 20-day exponential moving average, or EMA, was $115.5. Therefore, the coin is currently showing bullish trends. This data can add more traction to the coin’s rise and make it more popular. 

Bullish Tendency 

The relative strength index or RSI of LTC stands at 60.65. Therefore, LTC is gradually approaching the overbought territory, but there is room for going higher before it can hit extreme levels. A closer look at the RSI gradient will show that the coin will attempt to break resistance levels of 130, 140, and 150 US dollars. If this happens, the coin’s pricing will improve further, and the overall price prediction of the coin will improve further.  

In a Bloomberg report, analyst Eric Balchunas stated that most altcoins “are rounding 1st base, except for Litecoin, which is headed to 3rd.” This means that LTC is currently outperforming other coins like Solana, Dogecoin, etc., Therefore making it a lucrative investment opportunity for  

Meanwhile, James Seyyfart of Bloomberg claims this newfound zeal in the coin is also due to governmental intervention. In other words, LTC is highly likely to receive spot ETF approval by the SEC. This will add governmental backing to LTC, setting it apart from other altcoins. Follow for more crypto news.