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Price Analysis

Litecoin Price Analysis: Litecoin (LTC) Moving Amidst Bearish Trend

Litecoin (LTC) is currently moving with a bearish outlook, but the ranking of the coin reveals the fact of its enough potentiality. However, the current price correction is not the fully tapped potential of the coin. Let us look at the current market statistics in accordance with its position in the market.

Litecoin Current Statistics:

  • On July 08, at UTC 11:02, Litecoin is currently trading at $120.92.
  • With an ROI of 2,701.50%, the current market rank of LTC is 4th in the crypto chart.
  • Additionally, the market cap of the coin was 7,537,069,396 USD.
  • On top of that, the 24-hour trading volume of the altcoin is 3,494,633,597 USD.
  • Lastly, a total of 62,569,162 LTC chips were circulating in the market at the time of writing.

LTC Price Comparison:

Litecoin Price Chart - 08 July

On June 13, LTC was trading around $135.915. But 25-days hence, the coin is today, trading with a decline of 11.03%. Similarly, in the 7-days of trading, the altcoin has gone down by a small margin of 0.95%, from the valued amount of 112.078 USD on July 02. Nevertheless, yesterday was a good trading day for LTC where the coin opened at 118.03 USD and with a slight strengthening of 1.94%, it wrapped the day up at 120.32 USD.

Litecoin Price Prediction:

As per our speculation, Litecoin has a lot of growth potential and by the end of 2019, the price of LTC to USD might trade around $200. As of now, there is an immediate resistance for the coin at $121.22 and a support level at $118.53.

Conclusion:

With the listing on Flexa’s app, the altcoin team is expecting for a bounce back. Not to forget that, Litecoin has made a strong market grip in a very small amount of time. At current levels, the short term seems to be unpredictable. The Litecoin Foundation is also expanding its business in newer territories and this will surely help in strengthening 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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