Friday, June 2, 2023

Litecoin Price Analysis May 2021 | Litecoin to Just Keep Going Higher?

Here is our video about Litecoin price analysis for May 2021. Litecoin price is currently trading around $345 or slightly below its almost three and a half years high. It surges around 35% this week from Mondayโ€™s opening price.

Our Litecoin price analysis shows it is only a manor uptick away from Litecoinโ€™s all time high at $420. Bulls are encouraged to take the lead and push the price high despite minor retracements that brought the price down to around $207 two weeks ago.

According to our Litecoin may 2021 forecast, the $207 – $225 is a critical support level, previously a strong 2018 resistance, that was breached and now $420 is left exposed. Bulls need to look out for the $380 resistance level that might hinder Litecoin May price rally.

The Litecoin May 2021 forecast is affected by comments made from Janet Yellen about the pace of rate hikes. She made remarks that interest rate hikes may be needed to stop the economy from overheating.

However, she clarified in an online event on Tuesday that an increase in interest rates is not something she predicts or recommends. That dovish stance might provide support for cryptocurrencies and raise the Litecoin price target to beyond $420.

Watch the full video for our take on Litecoin price prediction and a deeper insight into what to expect in the weeks ahead from our Litecoin May forecast. Drop us a line in the comments with your thoughts on Litecoin May 2021. To be notified about the latest weekly Litecoin analysis and news, subscribe to official channel, and click that notification bell.


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