Since peaking at $91 in early September, Litecoin has lost around half its value. A good investment opportunity? Over the course of June, July and August, Litecoin averaged around USD 40, before embarking on an upward run in the last week of August, which saw it reach an all-time high of USD 91 on September 1.
At the time of writing, Litecoin is trading around USD 48, an unbeatable value to buy based on technical analysis, as its key support is very close to USD 40.
Since peaking at $91 in early September, Litecoin has lost around half its value. A good investment opportunity?
Litecoin prices
Over the months of June, July and August, Litecoin averaged around USD 40, before embarking on an upward run in the last week of August, which saw it reach an all-time high of USD 91 on 1 September.
At the time of writing, Litecoin is trading around USD 48, an unbeatable value to buy on the basis of technical analysis, as its key support is very close to USD 40.
However, if we go back to the beginning of the year, a Litecoin could be bought for as little as USD4, so the current price can be expensive or cheap depending on how you look at it.
If we analyse the cryptocurrency market as a whole, with all its potential ahead, Litecoin could be one of the most bullish currencies. On the other hand, if we look only at where the cryptocurrency started the year, its price may seem exorbitant.
In the short term, Litecoin can bounce back to at least USD 55, being the big challenge to beat for the rest of September and October the USD 62.
If the cryptocurrency market maintains its upward trend, the target for Litecoin would be USD 100. As long as Litecoin doesn’t give up key support at USD 40, it’s worth staying long.
Litecoin is the sixth largest cryptocurrency
t has a market capitalisation of over USD 2.54 billion. What do you think Litecoin will be worth at the end of 2017?
100 USD or more (57%, 170 votes)
75 USD (33%, 98 votes)
50 USD (7%, 20 votes)
30 USD (3%, 9 votes)
