Five months ago we publishe dour Litecoin price forecast of 60 USD for this or next year, a target which is already met. We noted that “how Litecoin delivers value and solidifies its intrinsic value will be key to exceeding that target.” Three months ago, we got the answer to that question, and we wrote that Litecoin’s founder Charlie Lee was building a stronger community with a clear focus on driving users and investors demand up, in addition to stronger code and high scalability.” That is when we increased our Litecoin price forecast to 100 USD in 2018. We are now on record to forecast that Litecoin will trade at 100 USD still in 2017 based on Litecoin’s strong price chart setup.
One the one hand we see continued improvements and releases by Litecoin’s team. Did you already check this impressive overview of Litecoin’s partners? That is what we refer to when we talk about ‘intrinsic value’ at InvestingHaven.
One the other hand the altcoin market is showing increasing strength, or momentum, now that Bitcoin is stabilizing.
Litecoin’s chart setup suggests that another steep rally is in the making. Note how this chart has a rising trend channel which is also perfect to the pixel. It is very realistic to expect an acceleration in Litecoin’s price anytime soon, which, similar to previous rallies, would bring Litecoin to the upper resistance area, and, most likely, pop for a couple of days outside of the channel. In such a scenario we will see 100 USD, maybe just intra-day, and we estimate it could happen before the end of the year.
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