Price Analysis

Litecoin Faces Tremendous Setback Due to Heavy Market Pressure

  • Litecoin marks a steep walk and takes the price to $53
  • The intraday trading might not embark recovery

Litecoin (LTC) price is dealing with a bearish trend. The last day of the third quarter might not be bringing the desired result to the traders as the currency is under huge market pressure and we couldn’t observe any scope of recovery. The traders are recommended to wait for some time as there is a strong possibility of improvement. Now, let’s have a look at the intraday chart of LTC to analyze the movement of the coin.

Litecoin Current Statistics:

The chart is taken from Trading View on September 30, 2019, at 06:15:24 UTC for price analysis.

Litecoin Price
Litecoin Chart By TradingView

Yesterday, Litecoin started dealing at $55.71 and the coin fell to $54.36 by 2.42%. Later, the currency shifted from $54.8 to $52.5 with a loss of 4.10%. There was a slight recovery, which took the price to $53.86; this revival added $1.28 in the price. Towards the end of the day, there was another recovery of 3.96% and the price counter moved from $52.90 to $54.99 by 3.96%. The intraday loss was of 2.91% as the coin closed at $54.08. Today, Litecoin opened with a heavy drop of 2.45% and the price moved from $54.08 to $52.75.

Litecoin has slipped to 6th rank from 5th position; the drop is due to market pressure. As soon as, the market pressure is lifted, the coin is expected to shine again. We are quite sure that investment in LTC wouldn’t go futile.

The best-suited investment would be a long-term investment for interested traders. The specified period would bring maximum return on the investment.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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