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![](https://cimg.co/news/123854/327230/litecoin-price-prediction.jpg)
The price of Litecoin (LTC) has remained secure previously 24 hours, with its present stage of $67.70 representing a 3% achieve previously week.
LTC had risen with the remainder of the market over the previous couple of days after Grayscale gained its attraction in opposition to the SEC, but the altcoin stays down by 25% within the final 30 days, and by 3% because the starting of the yr.
Nevertheless, with its 24-hour buying and selling quantity remaining elevated at simply above $300 million, its market is at present energetic and liquid sufficient to help additional rises within the subsequent few days and weeks.
Litecoin Value Prediction as 24-Hour Buying and selling Quantity Shoots Previous $300 Million – Time to Purchase?
LTC’s indicators look as if they’re near a place the place the altcoin’s worth goes to rise considerably, with its relative energy index (purple) shifting as much as 40 after greater than per week at or beneath 30.
![](https://cimg.co/news/123854/327200/litecoin-price-prediction.jpg)
Correspondingly, Litecoin’s 30-day shifting common (yellow) has now fallen up to now beneath its 200-day common (blue) that it might appear that the one means is now up, given simply how oversold the altcoin has been in latest weeks.
This impression is bolstered by the truth that LTC’s help stage (inexperienced) has been climbing steadily because the center of August, implying that the coin’s latest descent has certainly bottomed out and that consumers at the moment are able to accumulate the coin once more at its discounted worth.
With its buying and selling quantity passing the $300 million stage, it does appear that curiosity has risen in LTC, which benefitted a bit of greater than different altcoins this week from the information that the SEC can be required to re-evaluate Grayscale’s software for a spot Bitcoin ETF.
The approval of such an ETF may, sooner or later, pave the best way for the same Litecoin ETF, which is why LTC carried out a bit of higher than different altcoins earlier this week when the information broke.
But Litecoin has nonetheless underperformed when taking the yr thus far as a timeframe, with its halving turning out to be a textbook sell-the-news occasion.
And whereas Litecoin continues to be a essentially sound community, there may be nothing else approaching on its horizon that would offer its worth with a substantial increase within the subsequent few weeks or months.
That stated, some analysts argue that LTC is just on the backside of a post-halving droop, and that earlier cycles would recommend it ought to rise steadily within the extra distant future.
As such, LTC may probably attain $100 by the tip of the yr, with a return to extra bullish market situations presumably pushing it in direction of $150 within the first few months of subsequent yr.
New Altcoins Have Extra Potential
Whereas LTC seems as if it ought to see regular positive aspects over the approaching weeks, these could also be too regular for some merchants, particularly these looking for faster above-average returns.
There are, nonetheless, quite a few new altcoins out there that present good potential for vital positive aspects within the close to future, with a number of presal tokens wanting notably promising.
One in all these is Sonik Coin (SONIK), an ERC-20 meme token that has raised greater than $800,000 since its presale kicked off at first of August.
Styled loosely after the Sonic the Hedgehog franchise, SONIK is utilizing a mixture of brash, playful and edgy memes to be able to entice buyers and followers to its neighborhood, which is clearly increasing quickly.
The meme token has a complete most provide of 299,792,458,000 (the pace of sunshine in mm/s), with 50% of this amount accessible as a part of its presale, and with one other 40% being earmarked for staking rewards.
The power to stake SONIK to be able to earn a passive earnings is among the greatest attracts of the coin, which is aiming to succeed in a market cap of $100 million as shortly as attainable.
Judging by the runaway success of its presale, it has each likelihood of reaching this, with new consumers capable of be a part of the enjoyable by going to the coin’s official website and connecting their software program wallets.
SONIK is promoting at a worth of $0.000014, which ought to hopefully find yourself seeming very low cost as soon as the token lists on exchanges within the subsequent few weeks.
Disclaimer: Crypto is a high-risk asset class. This text is offered for informational functions and doesn’t represent funding recommendation. You may lose your entire capital.
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