Forex

Litecoin Price Forecast: LTC eyes 22% advance to test its all-time high. Litecoin price surged 16% over the last 24-hours, indicating an uptick in bullish momentum. A minor retracement to the weekly demand zone extending from $217 to $304 will most likely propel LTC to an all-time high at $420. On-chain metrics hint at increased interest among investors over the last couple of weeks. Litecoin price performance faltered along the way but hasn’t come to a standstill. With its 2018 all-time high only a minor upswing away, investors seem to be getting on the LTC bandwagon. Litecoin price to come full circle The weekly chart shows that Litecoin price has sliced through the supply barrier that stretches from $217 to $304. This area of resistance was set up in 2018 and the recent uptick in bullish momentum has caused Litecoin price to flip this zone into a support level. Although unlikely, LTC could retrace to the upper boundary of this zone before embarking on a journey to tag its all-time high at $420. If this ceiling is shattered, investors can expect a FOMO-fueled rally similar to what Ethereum price experienced as it climbed to new highs on May 4. Under these circumstances, Litecoin price could surge another 58% to the 161.8% Fibonacci extension level at $665, obtained by connecting the swing high and low in 2018.