Litecoin Price Analysis - $100 $LTC By End of October?
Relative Strength Index: The RSI is currently at a healthy 51 points and rising. We caught LTC/USD right at the rebound after it retraced down to $71.1.
Bollinger Bands: Litecoin is currently within range of the two bands after briefly dropping below the lower band an hour ago.
Volume: Unfortunately, the volume is extremely low right now which is surprising given that it's the start of a new week where markets are usually more active. However, volume can go from 0-100 extremely quickly if the market start swaying to either side.
Litecoin Price Prediction
The RSI and Bollinger Bands are both indicating that LTC/USD will trade sideways. Litecoin's volume reinforces the sideways market because of how low it is.
My short term prediction is that Litecoin will stay above the $71 level at least for the first half of the week. As the news about Litecoin summit spread, I believe it will have a bullish impact on the market and we just may see a $100 Litecoin by the end of October.
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