Price Analysis

Litecoin Price Analysis: Litecoin (LTC) is Facing A Slowdown, The Foundation Announced an Annual Summit

The Litecoin Foundation has made a partnership with Travala.com, a leading blockchain-based hotel booking platform, to accelerate the use of the altcoin as a mode of payment. Additionally, the foundation has announced for the annual Litecoin Summit in Las Vegas on October 28th and 29th.

Current Statistics of Litecoin:

Litecoin Price Prediction
Litecoin Price Chart
  • On July 11, at 12:07 UTC, LTC price was trading around $104.08.
  • Against Bitcoin, Litecoin was trading at 0.00895098
  • With a Return on Investment of 2,311.50%, the current market rank of Litecoin is 4th in the crypto chart.
  • Additionally, the Market Cap of the coin was 6,492,408,638 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 5,319,073,840 USD.
  • Lastly, a total of 62,613,412 LTC coins were circulating in the market.

LTC Price Comparison:

In the period of 5-days, the altcoin has shown a lot of fluctuations. Litecoin maintained almost flat trading during the first 4-days between July 06 to July 10. With a slight decline of 0.97%, the coin moved between the range of $117-$120. And once touched the $125 mark in the closing hours on July 8. However, in the second half on the previous day, it made a huge decline of 12.44% from $118.354 to $103.632. Litecoin showed some strengthening from that level, but again, stooped below $100 and hit the lowest 5-day’s trading price of $94.614 today. But this declining trend stopped afterward, and the crypto started moving toward the positive end of the chart around 4:30 UTC. And finally, at the time of writing, it is trading above $100 mark again, with a hike of 10.10% from the lowest trading value.

Litecoin Price Prediction:

Again, we would like to stick to our previous prediction of the altcoin, i.e., to be trading around 200 USD by the end of 2019. Although there is a bit of unpredictability in the crypto, a similar trend can be observed in most of the digital currencies. As of now, there is an immediate resistance for the coin at $117.79 and a support level at $101.51.

Conclusion:

Partnering with Travala.com is an important step taken by the Litecoin Foundation toward the strengthening of the altcoin. As far as trends are concerned, the short-term trend is an unpredictable one. However, the long term is still bullish.

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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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