Litecoin had made its way to 2022 in a downtrend, with a starting price of $148.5. Upon a push, the price fell to $123.1 by the 10th of January. Whilst the asset did pose a leg-up to $153.3 over the week. LTC price took a steep plunge to its support at $109.6 by the 22nd of January. The altcoin was seen sticking to its support until the 4th of February.
However, turbulence in the business coming from the geopolitical tussles between Ukraine and Russia. Anxiety around FED’s rate hike, and concerns about PoW chains. Pushed the price of LTC to its support levels. After a sideways movement, until the 18th of March. The price started to soar gradually and managed to close its quarter at $133.4.
Litecoin’s (LTC) Price Prediction For Q2
If the price of LTC gathers steam from its current price range at around $109.45. And manages to pose an uptrend toward $150, a bullish upward trek could take the price to $204.9. While regular trade pressures could settle the price at average levels of $164.4. On the contrary, if the bears rule the market, then the asset could find support at $153.3.
LTC’s Forecast For Q3
LTC would need to carry forward a bullish trek from the previous quarter. In order to generate higher highs, that could propel the price to $300.7. With a spike in transaction volumes and adoptions, the price could hit a maximum of $334.4. On the downside, falling volumes and negative criticism could close the quarter with a bearish note at $224.5.
LTC Prediction For Q4
If the price of Litecoin sees bullish social volumes in view of the fourth quarter. The price of the altcoin would reclaim its ATH of $410.26. An ascend from which, could close the quarter at $485.3. Whilst negative sentiments and a falling adoption rate could end the year at $288.1. Factoring in the bullish and bearish targets, LTC could settle with a regular price of $412.31.
Litecoin’s Price Forecast For 2023
The year 2023 is crucial for Litecoin, as the next LTC halving event could take place in the periphery of the year. Provided things go as planned, with newer adoptions and collaborations, the price could shoot to $621.75. However, the network not standing up to the expectations of the fraternity could result in the price taking a dip to $298.56.
Price Prediction For The Next 5 Years
Its current price range can attract many traders, as it is feasible when compared to Bitcoin in all possible aspects. Further, if the network succeeds in lowering the block time, it can even move heads on with Bitcoin. Therefore, with major collaborations with financial institutions, Litecoin can soar up to $865.74 if the above set conditions are met.
However, anxiety regarding newer regulations continues to persist among LTC users. If the market experiences a similar crash in the coming years, Litecoin’s price can wipe down greatly to $350.87. But considering that long-term investors will stick to the currency. The average price at which LTC might trade by the end of the next five years is $580.84.