• 29 May, 2024

Crypto analyst Cryptosahintas has shared an update on Litecoin’s price movement, predicting a substantial increase by 2025. The analysis highlights Litecoin’s historical price patterns, indicating potential growth similar to the surges seen in 2017 and 2021.

According to the analyst’s analysis, Litecoin’s price movement has fluctuated over the years. After the peak in 2017, when Litecoin hit a high of approximately $370, the price saw a decline, followed by another surge in 2021. The pattern suggests a recurring nature in Litecoin’s price movements, with significant growth phases followed by corrections.

Source: Cryptosahintas

As Litecoin’s price poses a significant upward trend, the analyst has highlighted major price points. Litecoin reached a high of $349 in 2021, marking a 576.42% increase. Based on these patterns, the analyst predicted that Litecoin could reach $488 by 2025, representing a 447.76% rise.

Currently, Litecoin is in a period of consolidation, with its price hovering around $80. This phase is seen as a predecessor to the next major upward movement. Cryptosahintas’ analysis suggests that the consolidation period will eventually give way to a bullish trend, propelling Litecoin toward the $488 mark.

As of press time, Litecoin is exchanging hands at $82.27 as the bulls take the lead. Litecoin has formed a daily low at $78 while the daily high is seen at 83, indicating an increase of 4.60% in the past 24 hours. Over the past month, Litecoin has seen a surge of more than 4%, with an immediate resistance observed at the $84 mark.

Litecoin’s market shows increased market activity as the market capitalization and the trading volume are on the rise, too. The market cap stands at $385 million, a surge of 4% since yesterday’s close, while the trading volume displays a gain of 12% with a value of $6.14 billion.

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