Is it too late to buy Litecoin? Crypto experts give their LTC predictions

The Litecoin price has been relatively stable over the past 24 hours despite a sharp rise in November. Some experts believe that LTC may have bottomed out and is now poised to regain its $70 level and possibly even move towards $100.

Currently, the 14th largest cryptocurrency is trading at $65.41 as bulls and bears battle for control of the market trend. Litecoin has a market capitalization of $4.7 billion, compared to $11.33 billion at the start of the year, when the price was $163.

How did the Litecoin price develop in 2022?

The Litecoin price has fallen across the board since January. The 2022 bear market had a significant impact on LTC, sending its value to a low of around $40.00 in June.

Despite a brief recovery from the Terra (LUNA) crash, Litecoin has struggled to break the $65.00 resistance until recently. Like many other cryptocurrencies, the value of LTC dropped after the collapse of FTX.

After a decline, the Litecoin price gradually came above the $65 zone, allowing the bulls to regain the price to around $80. On December 3, Litecoin hit a seven-month high of $84.96, leaving many renegade investors.

Despite LTC’s impressive performance in November, the price was unable to sustain its upward trend any longer after the US Federal Reserve raised interest rates by 0.5% last Wednesday.

Litecoin Price Prediction: Does $65 Support Hold?

Based on the chart below, the Litecoin price appears to be on an upward trend. This upward move started when LTC rejected the $40 support. The first major breakout occurred when the bulls managed to clear the resistance at $52 and break the lower trend line.

Traders who entered long positions just above this trendline could have made their positions profitable at a potential exit point around $70, as indicated by the 200-day exponential moving average (EMA).

The second bullish confirmation for the Litecoin price came when it recovered above the same lower descending trendline and broke the middle trendline at $66.64 in November. This bullish momentum continued until recently when pressure from above weakened the price.

LTC/USD Daily Chart
LTC/USD Daily Chart

Although many believe it is now too late to buy Litecoin, support at the mid-declining trend line could offer a suitable entry. However, before triggering their long order, traders should wait for a confirmed break above the 100-day EMA (in blue) at $65.25.

AltcoinSherpa, a popular cryptocurrency analyst and trader, told his 187,800 followers on Twitter that the Litecoin price may have found a temporary bottom. However, he clarified that the support at $65 is crucial for the uptrend to resume, at least until $70.

Pre-sale promises faster returns

Price prediction in the cryptocurrency market is quite uncertain, especially given recent events such as the collapse of FTX and the questionable financial situation of Binance, the largest cryptocurrency exchange by daily trading volume.

Investors interested in riding the waves can consider newer tokens currently on presale. The tokens listed here have strong fundamentals and can shape the crypto space.

Fight Out (FGHT)

FightOut (FGHT) is a fitness app running on the Ethereum blockchain that combines real-world training with Web3. Building on the foundation of previous M2E platforms, it tracks and rewards a variety of workouts, including boxing, weightlifting and yoga, while also offering in-app and IRL classes.

The token sale started last week and has already Raised over $2.2 million where you can currently buy 60.06 FGHT tokens for 1 dollar.

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Dash 2 Trade (D2T)

Also running on Ethereum, Dash 2 Trade is a trading intelligence platform that provides investors with real-time analytics and social trading data that helps them stay ahead of the cryptocurrency market and build more informed portfolios.

The sale of its D2T token has Raised over $10.3 million and is now in the final phase. It has also announced listings on BitMart, Changelly Pro and LBANK Exchange for early 2023, with the first due on January 11.

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C+Charge (CCHG)

Powered by the Binance Chain, C+Charge (CCHG) is a new peer-to-peer payment system for electric vehicle (EV) charging stations with the aim of expanding access to carbon credits. It has just started pre-selling its initial CCHG token, which will be used in its network of electric car owners to pay for charging their vehicles.

One of the interesting features of C+Charge is that users are rewarded with CO2 credits for charging their electric cars at the stations. These will be delivered in the form of the platform’s Goodness Nature Token (GNT), which is a verified voluntary carbon credit and is backed by a16z Crypto, Samsung Next and Invesco.

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