Litecoin Price Prediction as LTC Spikes Above $100 – Can LTC Reach $1,000 This Year?
The litecoin price has dropped by 5% in the past 24 hours, falling to $96.29 after it rose above $100 yesterday. This current level means that it has gained by 7% in a fortnight and by 17.5% in the last 30 days, pushed up by the Litecoin Foundation's announcement that its Mastercard-powered Litecoin Card will be launching in Europe.
Such news served to remind the market of Litecoin's existence as 'the silver to Bitcoin's gold,' with the altcoin remaining one of the most widely used cryptocurrencies in the ecosystem. And assuming that the wider market and global economy continues to recover this year, it could easily break out to new levels.
It seems that litecoin's jump over $100 was somewhat shortlived, with this price proving to be something of a stubborn resistance level for the token. It has mounted a few attempts to rise sustainably above this level in the past week or so, but each attempt has failed.
That said, LTC's indicators remain encouraging. Its relative strength index (purple) has sunk a little in the past day, yet it remains at around the 60 mark, signalling continued buying pressure.
At the same time, its 30-day moving average (red) continues to rise further above its 200-day average (blue). While there's a chance that it may have peaked, it still points upwards, suggesting that further gains may be in store.
As noted above, the extension of Litecoin's partnership with Unbanked and Mastercard into Europe is the main reason for LTC's recent joys. Its foundation had already partnered with both firms some two years ago to launch the Litecoin Card in the United States, yet following the success of this launch the card is now arriving in Europe and the United Kingdom.
"I am thrilled to be working with Mastercard to
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