Litecoin (LTC) Shows Inflections Towards the Bearish Movements Presently
Litecoin becomes the Official Cryptocurrency of the Miami Dolphins and AliantPayment. Litecoin has already set a new 52-week high price mark by trading as high as $146.43. Currently, the coin trades below $100 and is in the oversold territory. Litecoin has been oscillating between the highs and lows since the past 3 months. The current market scenario shows a plunging trend since the past week.
LTC Current Market Statistics:
- Litecoin is currently trading at $80.12 and 0.00843428 BTC at 08:30 UTC as on 17th July.
- The current market cap of the coin is $5,058,619,482 and the 24h volume of $3,961,503,397.
- The circulating supply of the coin is 62,699,812 LTC.
- The coin is currently ranked at 5th position in the crypto market.
- Litecoin currently fetches 1,773.33% Return on Investment.
LTC to USD Price Comparison:
Litecoin seems to be anchored by Bitcoin and its price trends. The above 3-months’ chart is the evidence of the same as the coin has been traded as low as $65.83 and as high as $143.05. In the same duration, Bitcoin also topped as high as $13,000 and beyond. Currently, Bitcoin is also trading in the bearish zone with many other altcoins following the same pattern.
Litecoin has been showing surging trends since the onset of May when the coin was trading around $65.83. The coin manifested an upward movement throughout the month of May and June. The price trend had been plunging since the onset of July, and the steep fall started since past week. The current trading price is declined by over 43% from the highest of the past 90 days.
The 90-days MA currently lies above the price trend of the coin. The current price is declined by 21.01% from the 90-day MA (101.44)
The MACD of the coin is currently towards the negative side of the scale showing enough volatility towards the bearish trends.
The RSI of the coin shows that the coin was dragged into the oversold region and has gradually picked up the pace to rise above the lower range near 40. This has been the scenario since past 3-4 days.
#Litecoin is officially in oversold territory
— teklordz (@teklordz) July 14, 2019
LTC Price Prediction and Conclusion:
At present, the coin will fetch no returns for the intraday traders but seems promising for the long-term traders as it has grown by huge number since the start of the year until now. According to LTC Predictions, Litecoin is expected to trade around $200 by the end of the year.