Outside Source
- 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.
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 on the market.
The US Justice Department charged the two KuCoin execs with criminal violations and KCS price plummeted amid funds outflows.
However, Injective has seen significant network growth. Indeed, its Ionic Upgrade could be a big move as the network eyes more interoperability with Ethereum, Soland and other chains. A bullish flip may help bulls target a return to above $50 and potentially new all-time high.
If bulls fail to reclaim the upper hand, a retreat into ranged trading is possible with the $40-$35 the main boundaries. The upper range could be $45 while bears might fancy the $30 support level.
KangaMoon (KANG) is a new crypto token in presale. While it’s yet to hit the trading market, it’s attracting huge attention both for its innovative project and the potential for the native token KANG.
Driving KangaMoon is its innovative tokenomics that sees presale participants start earning KANG via various challenges and contests. The unique approach is possible because this is a meme coin project that combines SocialFi and play-to-earn.
There’s potential for KangaMoon to grow into a top project in the P2E space, particularly with its rare NFTs and game battle arena adding to the excitement.
So far, the project has raised more than $2.8 million from early investors. The current stage 4 is nearly 40% sold out, with the price at a relatively bargain point of $0.014. The KANG value has increased from $0.005 in stage 1.
When tokens launch on exchanges post-presale, KangaMoon could be one of those projects to explode.
Notably, those who join the presale now can enjoy a 10% bonus on all purchases. Buying options include USDC, USDT, SOL, BNB, ETH and BTC.
Check out the KangaMoon website for more details.
This article first appeared at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison
