Litecoin (LTC) Price Bullish: Is $500 ATH Possible Soon?

The altseason continues, with various altcoins reaching new all-time highs (ATHs).
Litecoin recently hit its ATH of $413. It may reach $500 if it continues its growth.
Meanwhile, Ethereum reached a new ATH of $4,000, while Bitcoin dominance is below 50%.

The alleged altseason continues to reflect its effect on the crypto market, as various altcoins remain dominant amid prolonged bull run. One of these is Litecoin (LTC), one of the oldest cryptocurrencies out of thousands that exist today.

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In fact, LTC reached its all-time high (ATH) of $413 recently. Given its impressive performance, will LTC reach a new ATH of $500 soon?

LTC/USDT 1-day chart (source: TradingView)

As the chart above shows, LTC’s price graph has an ever-increasing candlesticks in terms of height. This shows that the popular altcoin is making massive opening and closing prices. In fact, the recent trades already surpassed the ceiling by a significant margin.

The 30-day Exponential Moving Average (EMA) and the 50-day Simple Moving Average (SMA) are also way below the recent candlesticks. This signifies that Litecoin’s performance in the last few days are way above market expectations. Time will tell if LTC will reach a new ATH of $500 soon. With the looks of it, LTC just might hit the said target in a couple of weeks’ time.

Meanwhile, Ethereum also recorded another ATH at the $4,000 mark. At the same time, Bitcoin’s dominance continues to go below 50%.

Disclaimer: The technical analysis expressed in this article does not necessarily reflect the views of CryptoNewsLand (CNL). Readers of this article should not take this as financial advice. CNL strongly recommends that all users do their own in-depth research before investing in cryptocurrency.