Amidst slowdown in every other coin, Litecoin seems to have chosen to be unique. Creating an exception, it has gained more than 0.5% over the last 24 hours. The current price of LTC now hovers above 72 USD. The five swings in this period show the volatility in the value.
Litecoin Price Analysis
The first swing for Litecoin happened in the initial 4 hours and 25 minutes it pushed the price from 73.19 USD to 71.13 USD, the lowest point for the day. It was followed by a hike of 2.47% and this hike helped it to reach 72.89 USD by 08:10 UTC. The third variation started at 08:10 UTC and in the next 11 hours, it lost 2.06% to be placed at 71.39 USD. It was followed by an increment in the value by 1.86% and it pushed the LTC price to 72.74 USD by 22:02 UTC. The last swing of Litecoin started at 22:02 UTC and in the next 3 hours and 47 minutes, it fell by 1.59% to reach 71.57 USD. From there it is on a growth pattern.
Litecoin’s growth of yesterday is commendable and exceptional. The current price trend is above both the 20 days and 50 days averages. It hints at upcoming bullish days for Litecoin. The next resistance may come at 75 USD. The medium-term outlook is likely to be bullish as well.
Resistance and Support levels
R1- $73.513, R2- $74.406 and R3- $75.263
S1- $71.763, S2- $70.906 and S3- $70.013