Litecoin is considered one of the most undervalued cryptocurrencies, despite being the first altcoin. This article explores the potential for LTC price growth and analyzes factors affecting its market.
Current State of Litecoin
Litecoin, as the first altcoin, remains undervalued since its price did not reclaim past highs after the 2021 crash. Recently, daily trading volumes have increased by over 200%, raising questions about surpassing the $125 resistance in 2024.
Impact of ETFs on the Crypto Market
Spot ETFs have changed market dynamics for cryptocurrencies, creating optimism regarding future prospects. Analysts foresee 2025 as the year of ETFs, with LTC potentially launched earlier than others, possibly boosting its market value.
Future Prospects and Forecasts for LTC
The LTC price chart shows a sudden spike, yet it failed to break the $120 resistance. Consolidation may continue with potential dips providing entry points. Indicators like MACD and Bollinger Bands suggest market uncertainty but possible future breakout.
Litecoin's market is attracting increased attention, potentially enhancing its volatility favoring a bullish trend. The price is expected to maintain an upward swing, likely closing the year around $150.
