Litecoin Price Prediction as LTC Shoots Up 8% From $70 Level – Can LTC Reach $1,000 in 2023?

Litecoin (LTC), one of the prominent cryptocurrencies in the market, has experienced a significant surge, rising by 8% from its previous level of $70. 

This upward movement has sparked speculation among investors, leading to questions about the potential for Litecoin to reach the $1,000 mark in 2023.

In this Litecoin price prediction, we will take a look at the technical outlook and examine the possibilities for its future trajectory.

Litecoin Price

The current price of Litecoin (LTC) is $77, and the 24-hour trading volume is $285,408,830. Over the past 24 hours, Litecoin has experienced a nearly 1% increase.

Litecoin currently holds the 12th position on CoinMarketCap, with a live market cap of $5.6 billion. 

The circulating supply of LTC coins is 73,166,214, with a maximum supply of 84,000,000.

Litecoin Price Prediction

From a technical standpoint, Litecoin has broken below a symmetrical triangle pattern, acting as a support level of around $84. 

A strong bearish engulfing candle below the 50-day exponential moving average suggested a high probability of the downtrend continuing. 

The triple bottom pattern near $77.85 has been invalidated, indicating a prevailing bearish sentiment.

Given the strong bearish technical indicators, it was anticipated that Litecoin would continue its downward trend and target the next support level, around $65.457.

A breach below this level could potentially trigger further selling pressure, with a potential downside target near $63.

However, Litecoin found support near $72.20 and reversed its trajectory, trading back near the $77.18 level.

On the upside, a bullish breakout above the $77.18 level could expose Litecoin to a higher level, around $82.40.

It is important to highlight that the $72.20 level is expected to act as a significant support, potentially leading to a robust recovery in Litecoin’s price.

Traders should closely monitor the $72.20 level as oversold indicators like the RSI and MACD suggest the possibility of a price retracement.

Furthermore, there is a notable support zone around $65, while resistance can be observed around $82.40.

If Litecoin manages to surpass this level, it may face resistance around $88.44, with a substantial barrier at $84.

Can LTC Reach $1,000 in 2023?

Although Litecoin is currently displaying a bullish trend, it is important to note that there is no indication that it will reach the $1,000 mark in 2023. 

While the price may experience some upward movement, reaching such a significant milestone within the year is unlikely based on the available data and market conditions. 

Exploring Alternative Investment: Wall Street Memes 

As investors seek alternative opportunities in the cryptocurrency market, WSM is one emerging option worth exploring. 

The project provides distinct investment avenues outside of the traditional Litecoin landscape, offering the potential for diversification and growth in the ever-evolving crypto space.

Let’s delve deeper into it. 

Wall Street Memes

Wall Street Memes, an influential online community for retail investors, has achieved a significant milestone with the highly viral presale of its meme coin, $WSM. 

In just a few weeks since its launch, the presale has garnered over $8 million, averaging an impressive fundraising rate.

This rapid success has captured the attention of crypto investors, prompting them to act swiftly if they wish to participate early and potentially benefit from the future success of $WSM, comparable to other popular meme coins like Pepe, Dogecoin, or Shiba Inu. 

Read more: Check out Wall Street Memes price prediction. 

The current stage of the presale offers $WSM for $0.0295. However, as the presale continues, the price will increase to $0.0337, allowing investors to potentially secure an estimated 14% guaranteed paper gains by participating at this stage.

Don’t miss out on this chance to join the $WSM presale and potentially capitalize on its growth potential. Buy Wall Street Memes now and be part of an exciting and rewarding venture!

Buy $WSM Here

_{Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.}