- Litecoin could trade as high as $180 after breaking its resistance level but could be set up for a bearish run when it falls below $85.
- XRP has also been predicted to fall a little close to its support level before building momentum for a bull run.
Litecoin (LTC) has a current bullish market sentiment and has surged by 14 percent in the last seven days to trade at $88.32. In the last 24 hours, the asset has surged by 0.64 percent with a trading volume of $511,446,555. Similarly, one of the fastest-growing meme coins PEPE has recorded an impressive seven-day run with a 71 percent surge to trade at $0.000002.
XRP is also in the red after falling by 1.3 percent and 0.9 percent in the last seven days and 24 hours respectively to trade at $0.478954. Analysts predict that XRP could fall to its support level of $0.46, however, this could set the asset up for a continuous rally.
With the surging Litecoin price, analysts are still bullish amid the coming LTC halving and other factors. According to Analyst Michaël van de Poppe, Litecoin is ready to trade as high as $103 this year. After this price point, the asset could record a pullback and then later bounce back to hit $180.
More Litecoin Price Analysis
Litecoin’s halving is expected to come off on August 2, where the mining reward would be slashed by half from 12.5 to 6.25. Upon analysis of its previous two events, it can be deduced that the price records a volatile ascent 100 days before the event. Fifty days before the event, the rally forms a local top and undo the acquired gains. Interestingly, the third halving is recording unusual behavior contrary to its previous two events.
Hypes surrounding these events generated a surge of more than 200 percent, unlike the current market performance despite 35 days left. Since February 16, the asset has recorded three lower highs. Nine daily candlesticks have been closed above the $100 psychological level in the last 416 days. Its Relative Strength Index (RSI) is also said to be above the mean level of 50. It is predicted that the asset could proceed to $140 when it surpasses the physiological level of 100. However, when it falls below its support level of $85.56, Litecoin could crash by almost 8 percent.
Great weekly candle, through which we’ll most likely continue running towards $102. After that, slight correction before continuation towards $180 if a breakout above those recent highs is happening.
Van de Poppe also predicts that XRP could break $0.5025 as a key resistance level and continue its upward trend.
For PEPE, the analyst expects another bull run in the future but expects to accumulate the asset after a 13 percent decline from its current level. When the meme coin fell to an all-time low, its liquidity needed was said to be almost nonexistent. In this case, any slight capital inflow leads to an upward movement
Almost a 2x from the $0.00000085 level. It seems very likely that we’ll be having another run in the coming months. If I’d be a buyer, I’m looking at a buy at $0.00000135.
