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DailyBubble News

Litecoin’s $250 target is a ‘work in progress’ – Here’s why

Investors are optimistic about holding onto Litecoin (LTC), hinting that the price could approach its peak from 2021. The Pi Cycle Top indicator suggests that LTC is not overbought at the moment.

For LTC to reach $250, the price would need to surge by over 150% from its current value of $80.61. Despite experiencing a 15.60% correction in the last month, Litecoin’s Reserve Risk analysis by AMBCrypto indicates a positive outlook for the coin.

Reserve Risk, also known as the “HODL bank,” measures the confidence of long-term holders in the coin’s value. A high Reserve Risk coupled with a low value signifies strong conviction in the coin’s long-term potential, which is the case for Litecoin.

The Reserve Risk metric is anticipated to continue rising, potentially leading LTC to retest $100. Breaking the $100 mark could pave the way for a 100% increase in price, possibly reaching $250, a level not seen since November 2021.

Additionally, the Pi Cycle Top indicator suggests that LTC has room for growth as the 111-day Simple Moving Average is currently below the 350-day SMA. This indicates that Litecoin could see further price appreciation before the end of the bullish market cycle.

Moreover, the adjusted price-DAA divergence is -15.15%, indicating that Litecoin’s price growth has outpaced the increase in Daily Active Addresses. This combination of metrics suggests a potential buy signal for traders looking to accumulate LTC.

In conclusion, Litecoin shows promising signs for a price surge towards $200 or even $250 in the coming months. Market participants should monitor complementary metrics before making trading decisions.

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