It seems prophecies of a crypto winter have been fulfilled, as Bitcoin (CCC:BTC-USD) has lost 17% of its value since December kicked off. Altcoins have not been immune to the damage either, as Litecoin (CCC:LTC-USD) has declined by 30% during the same period. The first half of November was good for Litecoin, though, after it rallied higher by as much as 40% to as high as $279. Since then, all of those gains have been erased, and Litecoin is now trading at a two-month low of $145. As of today, Litecoin has a market capitalization of $10 billion, making it the 18th largest cryptocurrency. After such a wild ride, investors are seeking out price predictions.
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Litecoin was founded in 2011 by former Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) Google engineer Charlie Lee. The altcoin can be used as a form of payment without a middle party having to process the transaction. Unlike many other cryptocurrencies, the supply of Litecoin is fixed at a maximum of 84 million coins.
Even with the recent decline, Litecoin is still trading higher by 84% year-t0-date (YTD). This is by no means a bad return. Plus, investors are hoping future returns will be even better. With that said, let’s take a look at Litecoin price predictions by crypto analysts.
Litecoin Price Predictions: Where Will LTC Go Next?
- Yahoo Finance contributor Bob Mason believes Litecoin has a major short-term resistance level at $159.97. If Litecoin is able to break through this level, the altcoin should rise quickly to $170. In the event of further downside, Mason notes that Litecoin has a support level at $138 and $132.
- Wallet Investor has a 2026 price prediction of $592.38. Impressively, this represents an upside of 308%. This prediction is based on technical analysis and trend lines. According to Wallet Investor’s proprietary forecast system, Litecoin is an “awesome long-term investment.”
- Digitalcoin has a 2026 price prediction of $486.21. Notably, this prediction represents an upside of 235%. Digitalcoin developed its price prediction based on historical data and its own proprietary algorithm.
- CoinPriceForecast has a 2026 price prediction of $388. This prediction implies an upside of 167%. CoinPriceForecast’s prediction is based on “machine learning techniques” that take into account media news, liquidity, coin events and volume.
- Trading Beasts has a 2024 price prediction of $214.98. Indeed, this implies an upside of 48% from current prices. Trading Beasts developed this price prediction based on “historical data and using a combination of linear and polynomial regressions.”
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2021/12/litecoin-price-predictions-where-will-ltc-go-after-a-crypto-winter/.
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