Litecoin Rally Is Expected With Optimistic Target At $1,000

A new podcast is in the latest cryptocurrency news, focusing on a potential Litecoin rally which was first brought up by the founder of the cryptocurrency, Charlie Lee. As Lee said, Litecoin has the potential to surge even above $1,000 and the altcoin has proved that with its triple-digit surges this year.

Currently, Litecoin (LTC) is up by more than 6.1% weekly. Year to date, Litcoin and Binance Coin (BNB) are perhaps the two top performing assets with triple-digit gains. A Litecoin rally is very possible because of that – and Charlie Lee has lighted up the scene with a new prediction.

As he said while making big news in the altcoin news section, the altcoin loss in 2018 has nothing to do with the fact that Litecoin is big right now. A sneak peek of the episode was also posted on Twitter by Anthony Pompliano, who hosted the podcast.

New episode is live w/ @SatoshiLite!

We discuss the early days of Coinbase, why he originally built Litecoin, how crypto evolved over the last decade, what the current challenges are, and where Charlie sees BTC & LTC going in the future.

Listen & learn!https://t.co/JcpLe8SXZi

— Pomp 🌪 (@APompliano) May 1, 2019

For a Litecoin rally this big to occur, the recovery must begin. Fortunately, leading in the new market recovery is Litecoin. Despite the optimistic prediction that LTC could visit $1,000 soon, Charlie Lee did not mention the hash rate that is improving by the day.

From a technical point of view, Litecoin (LTC) is a leader in the coming altcoin news along with Ethereum. The resurgence is linked with the Bitcoin prices bottoming up and establishing a positive correlation. However, it is the early August halving that is right now drawing demand for the asset while investors expect a Litecoin rally.

Price-wise, Litcoin is solid and it seems like bulls are in charge as long as the prices are trending above $50. Since buyers are in control, traders can load up in dips with first targets at $100 which is a resistance level that marks the April highs. A Litecoin rally from this situation is very possible, knowing that we are seeing a bull reversal from April and a solid Fibonacci retracement level of 78.6%/

From all of this, the bull bar is obvious and a LTC rally may come in next. Litecoin is now at $74 in a 3% correction. The best cryptocurrency news sites show that while a $1,000 price prediction is definitely something out of the blue, the cryptocurrency has gained a lot this year.