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Price Analysis

Litecoin Price Analysis: Litecoin (LTC) Is Playing with Stability; Next Immediate Resistance at $124

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  • Litecoin (LTC) has shown significant price variations in the last 24 hours.
  • The target for 2019 remains at 200 USD.

Litecoin has been consistent in performance in the market for the past few days. Along with huge price variations, the coin has been maintaining its value at a similar price point.  Litecoin (LTC) faced its first fall between 00:14 UTC and 06:10 UTC and the coin lost almost 11 USD in this period. It was followed by a small stint of a hike of 6 USD over the next 3 hours approximately. A dip of 6 USD again followed it during the next 2 hours and 27 minutes. Between 11:38 UTC and 17:42 UTC, the coin gained over 8 USD and it helped the coin to go beyond 120 USD. The latest one is a hike of 7.34 USD, and this happened between 21:07 UTC and 01:05 UTC today. The medium-term outlook of Litecoin is bullish. Let us analyze the current details of the coin now.

LTC Price Statistics-

Litecoin Price Chart - 3 July
Litecoin Price Chart
Litecoin (LTC)3rd July 03:01 UTC
Rank4th
ROI (Return on Investment)2,732.47%
Coin Circulation62,493,676 LTC
Market Cap7,666,079,442 USD
Value in USD120.52 USD
Value in BTC0.01085178 BTC
24h Volume4,908,406,208 USD

LTC to USD Price Comparison-

Since April, the coin has been going through rough waters. This period has shown many steep ups and downs to the coin. A huge dip in the price happened between 06th April and 29th April, and the coin lost more than 25 USD in these 23 days. It was followed by a hike of 54% or 35 USD over the next 16 days. Another hike was noticed between 22nd May and 27th May. This period added 28 USD to Litecoin. In the last 1 month, the coin has faced two huge price variations. The first one is a hike of 38.62%, and it was followed by a fall of 19.31% that happened over the next 5 days. The market cap on 3rd June was 7,098,927,532 USD, and the value of each coin was 105.53 USD. The current market cap and the value of each coin are respectively 7.98% and 14.20% more than the figures for the last month.

Litecoin Price Prediction-

The medium-term outlook of Litecoin is bullish, and the coin may get to as high as 200 USD by the end of 2019. The next resistance points are 124.13 USD, 129.03 USD, and 134.77 USD. The support levels are 113.49 USD, 107.75 USD, and 102.85 USD.

Conclusion-

Litecoin has a bullish future, so buying fresh coins is advised. Holding until the 1st quarter of 2020 is likely to give at least 80% return.

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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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