Price Analysis

Litecoin Price Analysis: Litecoin (LTC) Loses Value; A Bearish Short-term is Likely

  • Litecoin (LTC) shows four major price variations in the last 24 hours.
  • The target for year’s end should be 200 USD.

Litecoin (LTC) has been on the priority list of many investors due to its stability and a growth pattern without any shocks. However, the coin has shown four major variations in the last 24 hours. Though it must have benefitted the intraday traders, this is not completely good for Litecoin as a stable instrument. Yesterday between 11:02 UTC and 12:24 UTC, the coin lost 4.82%. This was followed by a short stint of growth of 3.42%, which happened over 3 hours and 59 minutes. The next hike was between 20:58 UTC and 22:51 UTC. This hike was of 4.67%, and it was followed by a huge dip of 3.21%, which happened over the next 3 hours and 14 minutes. The medium-term outlook of Litecoin is bullish, and by the end of this year, the coin is likely to reach 200 USD. Let us look at the current detail of the coin.

Litecoin Price Statistics-

Litecoin Price Chart - 26 June
Litecoin Price Chart
Litecoin (LTC)26th June 02:58 UTC
Rank4th
ROI (Return on Investment)3,049.30%
Coin Circulation62,392,726 LTC
Market Cap8,281,712,447 USD
Value in USD134.80 USD
Value in BTC0.01169431 BTC
24h Volume4,078,028,492 USD

LTC to USD Price Comparison-

Litecoin got its value hiked at the onset of April. The coin gained 57.67% over 11 days, starting from 26th March. This growth was followed by a dip in the price by 27.39%, which happened in the next 23 days. Another hike was there between 07th May and 15th May. This hike was of 39.86%. This was again followed by a fall of 13.26% that happened in the next 3 days. The latest growth was made between 04th June and 22nd June. This accounts for a hike of 37.86%. The market cap on 26th May was 6,267,853,730 USD, and the value of each coin was 112.68 USD. The current market cap and the value of each coin are respectively 32.12% and 19.63% more than the figures for the last month.

LTC Price Prediction-

Litecoin is likely to have a bullish medium-term outlook. As per our prediction, the coin is likely to reach 200 USD by the end of this year.  The next resistance points are 139.4433333 USD, 142.3966667 USD, and 146.6733333 USD. The support levels are 132.2133333 USD, 127.9366667 USD, and 124.9833333 USD.

Conclusion-

Litecoin is undergoing a small phase of fall, but it is likely to revive soon. New investors should aim for holding of long-term.

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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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