Litecoin (LTC), the cryptocurrency powering the decentralized payments-focused Litecoin blockchain, is consolidating just under $110 after reaching its highest level in more than a year earlier in the session at $113.61.
According to crypto price data website CoinGecko, LTC is up as much as 22% in the past seven days, making it the eighth best performing cryptocurrency in the top 100 by market capitalization over this period.
Despite now recovering more than 50% from June lows close to $70 per token, Litecoin price predictions remain bullish.
Litecoin was recently listed on one of the hottest new US cryptocurrency exchanges EDX Markets.
Newly launched, EDX Markets is backed by a number of major financial institutions, including Fidelity, Charles Schwab, and Citidel.
Observers expect the exchange, which currently lists just four cryptocurrencies, to be viewed more favorably by regulators than others like Coinbase and Binance, both of which were recently sued by the SEC.
That helps add legitimacy to the cryptocurrencies, such as Litecoin, traded on this exchange and could help boost their institutional adoption.
This, coupled with the bullish trend in bitcoin, could be a continued tailwind for Litecoin.
Meanwhile, investors are also getting excited about another potentially bullish upcoming catalyst for Litecoin – the upcoming halving.
In just over 30 days, the block reward for miners will be cut in half from 12.5 LTC to 6.25 LTC, effectively halving the inflation rate of Litecoin.
Anticipation leading up to this event is evident in the rising on-chain activity on the Litecoin blockchain, which processed 1 million transactions in the week leading up to the 29e of June.
Price Prediction – What Now for Litecoin (LTC)?
“Litecoin looks great,” popular crypto analyst Michael van de Poppe said in a recent tweet.
Behind his rating is the fact that the cryptocurrency recently broke above its 200 weekly moving average (MA) and exponential moving average (EMA), as well as $100 resistance.
His rising targets are $180 and $250, representing gains of 65% and 130%, respectively, from current levels.
Other technical signs also support Van de Poppe’s bullish position.
LTC’s recovery from June lows confirmed that an uptrend that started in mid-2022 remains intact.
Meanwhile, the recent pop high marked a bullish breakout from a longstanding pennant structure.
The closest major long-term resistance areas that bulls will target are around $134 and $143.
Can Litecoin (LTC) Reach $1000?
At its current price of just over $100, Litecoin would take almost 10x to reach $1000 per token.
Is that possible?
Well, considering the cryptocurrency’s market cap is only around $8 billion, the scope for potential upside is huge.
If Litecoin were to rise 10x from current levels, its market cap would still be only about $80 billion, only about 13.3% of bitcoin’s current market cap of nearly $600 billion.
As the current crypto bull market matures and stories such as Litecoin (LTC) gain ground as the “silver” for bitcoin’s “digital gold”, Litecoin has a high chance of making at least 10x gains and reaching $1000.
Litecoin (LTC) Alternative to consider
Investors should always be wary of diversifying their crypto holdings.
A high-risk, high-reward investment strategy that some investors may want to consider is getting involved in crypto presale.
Here, investors buy the tokens of startup crypto projects to help fund their development.
These tokens are almost always sold very cheaply, and there is a long history of pre-sale making huge exponential profits for early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/return of their presale investment is very good.
The Cryptonews team spends a lot of time sifting through presale projects to help investors.
One such project that they believe has a lot of potential is a green web3 start-up called ecoterra.
Ecoterra – The first of its kind Recycle-to-Earn (R2E) platform
As outlined in the project white paper, ecoterra is building an all-in-one $ECOTERRA-powered green web3 ecosystem designed to encourage recycling through the first-of-its-kind Recycle-to-Earn (R2E) app.
The platform will also facilitate trade in recycled materials and encourage individuals and businesses to offset their carbon footprint.
And the presale of the project’s own $ECOTERRA token has been absolutely flying.
Revenue recently surpassed $5.7 million, a strong vote of confidence from the crypto investing community in the vision of the project.
Observers expect the pace of presales to pick up now that the project is accepting invitations for users to try out a demo version of its flagship R2E application.
Emerging green Web3 projects such as ecoterra are expected to play an increasingly important role in global efforts to tackle climate change over the coming decades as the wider adoption of crypto increases.
Visit Ecoterra here
Time to buy $ ECOTERRA?
Investors have no time to lose if they want to secure their $ECOTERRA bag at a favorable price.
That’s because the pre-sale will stop when ecoterra’s pre-sales reach $6.7 million, a milestone that could be reached in a matter of weeks given the pace at which $ECOTERRA has been selling lately.
$ECOTERRA will then launch on major crypto exchanges next quarter, with many analysts predicting a major upside for the token as a broader investor base scrambles to secure one of the crypto industry’s most promising green crypto tokens. set.
Investors can currently secure $ECOTERRA tokens at a price of $0.01 each and receive a 10% bonus.
Buy $ECOTERRA here