On October 07, 2011, the Litecoin Core open-source client was published by Charlie Lee on Github. Since then, anyone could check out the code and use it without restrictions.
At its core, LTC, like Bitcoin, is a decentralized reservation system that checks every transaction on the network, permanently locks it into a block, verifies it against the rest of the web, and updates it. At the same time, Litecoin is also limited in quantity and follows predetermined inflation. In the 2022 LiteCoin exchange rate forecast, let’s look at the opportunities and risks of LTC.
Current price development
Although Litecoin (LTC) has benefited from most Bitcoin (BTC) price movements this year, things have changed dramatically since the May 2021 sell-off. Since then, Litecoin’s price seems to have stopped being the biggest cryptocurrency. Yes, of course, LTC has rebounded nicely from its July 2021 low, but unlike BTC and ETH. $176.42 is still the most likely mark for the next six months in the price of Litecoin.
The daily chart clarifies that the resistance zone just mentioned is indeed relevant. Litecoin is still trading below the 23.60% Fibonacci level, measured from the current historical high to the July 2021 low. Need to btc to ltc convert? Then use an alligat0r cryptocurrency exchange aggregator.
LiteCoin’s 2022 rate forecast and outlook
The 200-day moving average above the price (around $191) does not make this picture any better. The LTC price still has a long way to go before talking about the next hit to the ace.
According to the price charts, two possible predictions for the LiteCoin exchange rate for 2022 come to mind:
Bullish. The Litecoin price will break through the $176.42 mark in 1H 2022 and return to the 200-day moving average at $191. These will be strong signals to attract new buyers to the market and reinforce the positive momentum. Possible price targets are $220-$300.
Bearish. Litecoin’s price will fail (again), fall below the $176.42 level, and will have to look for lower prices again to find fresh liquidity. It would then reach the $144.96 level, supported by a lower 50-day moving average.
Looking ahead, there is currently no reason for LTC to decline unless the cryptocurrency markets collapse again. That’s the answer to the question of whether LiteCoin will rise or fall, most experts are begging for.
LTC is constantly on the move and has not only changed drastically over the past few years but will continue to change in the future. The network is decentralized, but updates and changes to the protocol happen much faster than in Bitcoin. Nevertheless, decisions are also weighed in advance and tested several times.
Thanks to improvements in the protocol, the price of LTC can also gain momentum. Therefore, the forecast for Litecoin is positive.
LTC fundamentals: what factors affect the Litecoin forecast?
To accurately forecast Litecoin for 2022, you need to assess the real situation of the project in addition to the charts. This qualitative assessment looks at factors such as adoption or even analysis of blockchain data. Unlike technical analysis, which adheres to a time horizon of at most one month or shorter, a fundamental assessment is used for a long-term Litecoin forecast.