Price Analysis

Litecoin (LTC) Faces a Steep 3% Fall During Intraday Trading

  • Litecoin (LTC) price drops tremendously today
  • The immediate support level is already broken

Litecoin is currently badly affected by the bearish trend. The coin began the year trading around $30. During the month of June, the price escalated to $142 which is almost five times that of the trading price marked in the beginning. The first two quarters were evidently terrific for` Litecoin.

The coin started falling from the third quarter, and here we are today at $52. If we compare the price from the beginning of the year then, it is still dealing with profit and is expected to improve if the trading momentum improves.  Let’s have a look at the intraday trading of LTC.

Litecoin Price Analysis:

Yesterday, Litecoin started trading around $54.8. The price escalated to $55.29 and kept it tight around the same for some time. Further, the price slipped from $55.25 to $54.28, marking a regression of 1.75%. The price kept shifting down and took the price to $53.24 from $55.02 by 3.23%. The day closed at $53, with an intraday loss of 2.42%. Today, the price opened with a stable movement of around $53.5. The price shifted from $53.5 to $52.25 by 2.40%. Later, the price kept hovering around $52.7.

Litecoin Price
LTC Chart By TradingView

Litecoin is currently suffering in the market. The loyal traders are still hoping for a recovery, and we are also positive that it would take place soon. The currency is currently moving to breach the next support level as it has already violated the immediate support level. Here is the chart.

Resistance Level Price
R1$54.81
R2$55.87
R3$56.26
Support Level Price
S1$53.16
S2$52.57
S3$51.51

The traders who have already invested in Litecoin must be aware that coin has a noticeable recovery ratio. It would be giving a colossal profit in the future. The currency is speculated to give the best results to the long-term traders.

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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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