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
R1$56.64S1$53.98
R2$58.33S2$53.01
R3$59.3S3$51.32

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.

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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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