Friday, 12 April 2024
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Injective, Litecoin price prediction as KangaMoon thrives

here's why LTC could explode

  • Injective (INJ) price has dropped below $40 and could struggle despite latest network developments.
  • Litecoin (LTC) could break above $100 and eye more upside amid ETF speculation. 
  • Elsewhere in the market, investors are aggressively buying KangaMoon (KANG).

Litecoin (LTC) is seeing some action amid increased news coverage while Injective (INJ) price sits at a crucial support level. The two cryptocurrencies are among those investors are watching as sentiment around Bitcoin paints a bullish picture for top altcoins.

Here’s the price prediction for Litecoin, Injective as well as a look at why interest in new crypto project KangaMoon (KANG) is skyrocketing.

Litecoin price prediction amid LTC news

Litecoin ranked among the top altcoins for a while before plunging off radar amid negative price action during the last bear market.

Now, as Bitcoin hoards all the headlines with a spike to a new all-time high, Litecoin price is slowly back into the shadows. A potential break into the spotlight may be on given fresh bullish sentiment.

Last week, Coinbase Derivatives moved the interest needle for LTC with its plans for listing Litecoin futures. The derivative product will go live on April 1. On Tuesday, the CFTC labeled LTC and ETH as commodities in its lawsuit against crypto exchange KuCoin.

There’s also speculation that institutions may be eyeing an LTC spot exchange-traded fund (ETF). The coin’s similarities to Bitcoin suggests the SEC could be open to this more than Ethereum.

While the ETF rumour is likely a long shot, a bullish outlook for Litecoin price comes into play if bulls break and strengthen above $100.

LTC jumped more than 10% late Tuesday to reach highs of $98.90.  If price breaches the immediate resistance line, it could retest the area near $130. New tailwinds at these levels could elevate LTC/USD to a multi-year high above $200.

Litecoin price chart. Source: TradingView


Injective price prediction

Injective (INJ) has been choppy since flipping lower from its all-time high of $52.60 on March 14. Currently, INJ trades around $38.35, down more than 5% in the past 24 hours.

INJ price is thus hovering near a key support line that has offered buyers a reload opportunity several times year-to-date. 

Latest weakness for Injective comes as investors weigh the impact that an indictment on KuCoin and two of its founders may have…

Click Here to Read the Full Original Article at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison…