Price Analysis

Litecoin (LTC) Price Downtrend Gets a Support at $53.98

  • Litecoin faces the downtrend with its intraday trading
  • The coin finds immediate support at $53.98

Litecoin is currently moving down with a moderate speed and the market trend is also indicating a similar move. If we look at the 15-day movement in the price, LTC is seen booking losses. The opening price of the ongoing month was $57.5 and the current trading price is $53.9.

As per yesterday’s price movement, Litecoin was seen touching a high at $57.37 and a low at $54.71 with a trading volume of $2,602,960,066.

Litecoin Price Analysis:

Litecoin Price
LTC Chart By TradingView

LTC started the previous month with an escalation as the price moved from $85.20 to $71.24. Later, there was another progression of 14.15% that took the price to $72.93 from $63.90. Further, the price jumped to $80.45 from $67.24 by 19.64%. The price started falling after hitting $80.45 which took the price down to $50 by 35.16%. The month closed at $56 with a loss of 11.32%. The ongoing month has reflected an aggregate loss of 6.45% until now except the major escalation that took the price to $59 from $53.

The calculated support and resistance levels are as follows:

Resistance Level Price Support Level Price

Litecoin has given flourishing result in the past. The first two quarters were quite amazing, but the previous quarter was very disappointing. The ongoing quarter has also brought a loss in the trading price until now. The escalation in Litecoin is long-awaited now.

The traders interested in coin are recommended to go long-term investment to book a colossal profit.


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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