Price Analysis

Litecoin (LTC) Records 15% Drop in the Last 30 Days

It has been a good year for the Litecoin holders. LTC had given considerable returns, especially when it had started trading above $100. The pace has slowed down a bit in the last few months, but once it crosses the $90 mark, Litecoin may start trading upwards soon. The current market performance indicates the commencement of progressive trends soon.

Litecoin Price Analysis:

As on September 29, 2019, at 03:03:21 UTC, LTC price is noted to be $54.82, and it has recorded a downtrend of over 15% in the last 30 days. Litecoin was seen to be trading at $64.81 at the beginning of this month and gradually moved up to rise as high as $77.51 by September 18. But, since then, LTC price has been tumbling down, and it has hit as low as $51.09 just three days back. The coin has recovered from this value but may take some time to climb up to $70 again.

LTC Price Chart

The lowest recorded price of Litecoin yesterday was $54.64 and currently, the coin is trading above it. The highest recorded value in the last seven days was $74.05, and it can be expected that LTC may trade between this range in the coming week.

Litecoin started the year at $32, and currently, it is almost trading at 1.5X of this price. It is one of those cryptos which has maintained a continuous growth in the entire year even when the market is going through a slowdown. Hence, LTC may cross its 30-days high $79.66 by the end of this year and may even start trading above it.

Planning bulk investments in LTC coin now is a good option for long-term benefits. But, to avoid any misfortune, traders should consider the following support and resistance levels:

R1: $56.62, R2: $57.56 and R3: 58.55

S1: 54.69, S2: $53.70 and S3: $52.76

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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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