Price Analysis

Litecoin Price Analysis: $90 Remains The Immediate Milestone Irrespective Of Price Correction

Nordstrom Rack, a fashion retailer, based in the United States, accepts Litecoin as payment. Interestingly, Nordstrom and has both online and offline stores. So Litecoin holders got a new way to spend their chips. And this will help the foundation in extending its market grip too.

Current Statistics of Litecoin:

  • Litecoin (LTC) vs. US dollar is trading at 87.111 USD.
  • Against Bitcoin, the crypto is valued around 0.0076588BTC per chip.
  • With a return on investment of 1,925.74%, the market rank of Litecoin is 5th in the crypto market at present.
  • Additionally, the market capitalization of the digital coin is 5,489,267,952 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 2,854,377,506 USD.
  • Again, the total LTC chips circulating in the market, at the time of writing, was 63,020,293 LTC.

LTC to USD Price Comparison:

Litecoin Price Prediction
Litecoin Price Chart

On July 18, Litecoin (LTC) was trading at 101.633 USD. However, today after 25-days, the altcoin has shown a substantial decline by 14.28%. Similarly, in a week of trading, Litecoin has gone down by 10.94% from the level of 97.853 USD on August 06. Nevertheless, the coin has shown a bit of strengthening in yesterday’s trading where it opened at 85.45 USD and closed the intraday trading at 89.75 USD with a slight bounce-back of 5.03%.

Litecoin Price Prediction:

When compared to other altcoins, the bounce-back in Litecoin is relatively lower, but it has a lot of potentials. Litecoin has been in top 5 cryptocurrencies for a long time. And this can only be achieved by crypto with strong fundamentals. As per our prediction, Litecoin might trade around 150 USD to 200 USD by the end of the year. For now, the immediate support is at 86.46 USD. Additionally, the resistance for the altcoin is at 92.037 USD.

Conclusion:

Nordstrom Rack is one of the popular retailers in the fashion industry which sells branded clothes at discounted prices. In that case, the new payment option of LTC at the store will surely result in increased trading volume of the crypto.

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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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