Litecoin Price Analysis: LTC Price All Set For 50% Surge, Analyst Maps Potential High Levels

The post Litecoin Price Analysis: LTC Price All Set For 50% Surge, Analyst Maps Potential High Levels appeared first on Coinpedia Fintech News

The Litecoin (LTC) market suddenly turned bullish during the early Asian market on Friday with heightened on-chain activities. The third largest Proof-of-Work (PoW) secured blockchain after Bitcoin and Dogecoin have recently recorded a significant demand from both retail and institutional investors.

Moreover, Litecoin mining difficulty has scaled to ATH amid a significant increment in daily hash rate. Unequivocally, the Litecoin market is well poised for more gains in the coming weeks. Furthermore, Litecoin’s price is about to close in June in a bullish engulfing formation.

Litecoin Price Analysis

According to a respected crypto analyst Captain Faibik (Twitter: @CryptoFaibik), Litecoin price is about to rally as much as 45 percent from current levels. The analyst noted that Litecoin price just broke out of a 3-day falling trendline after forming a macro bullish flag in the past few weeks.

Moreover, the recent LTC Price pump also gained against Bitcoin after consolidating since March this year. 

Also Read: Solana & Litecoin Among the Top Gainers Today-What’s Triggering the SOL & LTC Prices High?

With less than 33 days left until the third Litecoin halving, the LTC community has speculated on the macro dynamics of this event. Moreover, the demand is expected to flex the supply, which will fall to 6.25 LTC coins every ten minutes. Interestingly, Litecoin price has rallied in tandem with Bitcoin Cash (BCH) after an institutional grade exchange EDX Market announced its listing.

Essentially, the listing of Litecoin among the top two digital assets proves that institutional investors believe in its long-term success. The Litecoin network has deep liquidity and unique blockchain features like fast finality.