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Price Analysis

Litecoin Price Analysis: Is Litecoin’s (LTC) Silence Hinting at Upcoming Storm?

  • Litecoin (LTC) shows six huge price swings in the last 24 hours by not changing the final value.
  • The target price for 2019 remains at 200 USD.

Litecoin is one of the major coins of current times which have a wide users’ base. The coin has recently shown positive growth, but in the last 24 hours, it has not moved with a huge margin despite showing six major price swings. Between 01:03 UTC and 03:06 UTC, the coin lost 2.44% only to rise again by 2.65% over the next 2 hours and 16 minutes. Then again the coin fell by 2.94% or 3.61 USD between 05:22 UTC and 09:22 UTC. A short hike was noticed between 09:22 UTC and 13:21 UTC. This was of 2.08 USD or 1.74%. Then the coin again fell by 2.93%, and this fall pushed the coin to 117 USD price level. However, at 16:45 UTC, the coin started growing, and it managed to gain 4.81 USD over the next 7 hours and 19 minutes and then finally could go beyond 120 USD. The medium-term outlook for Litecoin is bullish, and the coin may reach 200 USD by this year’s end. Let us look at the current details now from Litecoin chart.

LTC Price Statistics-

Litecoin Price Chart - 4 July
Litecoin Price Chart
Litecoin (LTC)4th July 02:52 UTC
Rank4th
ROI (Return on Investment)2,720.90%
Coin Circulation62,509,326 LTC
Market Cap7,604,922,076 USD
Value in USD120.40 USD
Value in BTC0.01023453 BTC
24h Volume4,405,529,443 USD

LTC to USD Price Comparison-

Litecoin started its growth story from 1st April by hiking 51% over just 5 days. A dip of 27.23% followed it in the next 23 days. Again the coin gained 35 USD over the next 16 days and reached 100 USD for the first time in 2019. After a short stint of fall, the coin again gained almost 30 USD. The latest fall was seen between 22nd June and 27th June and the coin lost 18% in this period, and it again gained 15% over the next 2 days. The market cap on 4th June was 6,514,845,971 USD, and the value of each coin was 102.11 USD. The current market cap and the value of each coin are respectively 16.73% and 17.91% more than the values of the last month.

Litecoin Price Prediction-

The medium-term outlook of Litecoin is bullish. The coin is likely to be around 200 USD by the end of 2019. The next resistance points are 124.7433333 USD, 126.9266667 USD, and 130.1133333 USD. The support levels are 119.3733333 USD, 116.1866667 USD, and 114.0033333 USD.

Conclusion-

Litecoin has not shown huge volatility in the past few days. The coin will have a price rally soon, and the investors need to wait at least until the year’s end for realizing maximum returns.

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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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