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Price Analysis

Litecoin Gets Attacked by a Bear; Intraday Trading to Book Moderate Loss

Litecoin (LTC) has adapted a volatile movement in the market. From the past few days, the coin starts the day with a bearish trend, but towards the end of the day, LTC books profit and closes at an unexpected digit. However, today, the day began with a moderate loss and looks like it would remain the same.

The intraday traders might not be earning the profit. However, we are quite positive about the coming days. Litecoin is anticipated to shine brighter than any of its competitive coins.

Litecoin Price Analysis:

The data feed is taken from TradingView on October 3, 2019, at 07:38:52 UTC for price analysis.

Litecoin Price
Litecoin Chart By TradingView

Yesterday, Litecoin began the day with an escalation and the price moved from $55.8 to $56.6 by 1.54%. It immediately slipped by 1.81% and the price went to $55.5. There was another upsurge, which brought the currency up to $56.9. After then, the price fell by 1.42%; the price counter changed from $56.9 to $55.9. The hike took the coin up and reached $56.7 by 1.31% and within the next 55 minutes, the price dropped to $55.5 by 2.16%. During the final hours of the day, LTC climbed from $55.4 to $56.7 by 2.35%. The intraday uptrend took the price up by 1.74% and closed at $56.7. Today, Litecoin has registered a fall; the price slipped from $56.7 to $56.2 by 0.99%. Another downfall took it to $55.6 from $56.5 by 1.66%.

Litecoin has a distinct price momentum in the market and the same makes the coin stand out. The currency also tries to remain unaffected by Bitcoin. There is a strong belief in the market that LTC is going to be the toughest competitor of BTC in the coming years.

Litecoin is recommended for long-term traders as it would give the best return in the specified time. The short-term investment could also be beneficial, but it wouldn’t bring the expected result.

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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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