Price Analysis

Litecoin Price Analysis: Litecoin (LTC) Price Tumbles by 6%

Litecoin has not been immune to the slowdown of the market in the past few days. In the last 24 hours, the coin has lost almost 6% of its value and shown four huge price swings. The coin has a bullish medium-term outlook, and the target for 2019 should remain at 200 USD. Let us look at the current details of the coin now.

Current Statistics of Litecoin-

Litecoin (LTC)23rd July
Rank4th
ROI (Return on Investment)2,087.96%
Coin Circulation62,780,843 LTC
Market Cap5,930,915,186 USD
Value in USD93.98 USD
Value in BTC0.00916249 BTC
24h Volume2,601,024,746 USD

Litecoin Price Comparison-

Litecoin price chart July 23
Litecoin Price Chart by TradingView

Litecoin had its first variation as a fall of 2.59%. It happened between 00:09 UTC and 05:08 UTC. The first fall cost the coin 2.61 USD. The next variation was another fall of 4.34% that happened between 07:59 UTC and 09:16 UTC. This fall cost the coin 4.32 USD. The third variation was between 14:08 UTC and 14:50 UTC. Over these 42 minutes, the coin has lost 6.15%. It was followed by a hike of 4.77% over the next 7 hours and 34 minutes from 14:50 UTC. This has added 4.34 USD to the value of each LTC coin. These are the four huge price swings of Litecoin, and all of them lie in the range of 2.5% and 6%.

Litecoin Price Prediction & Conclusion-

Litecoin has a bullish medium-term outlook. The coin is likely to be around 200 USD by the end of 2019. The next resistance points are 99.68 USD, 103.94 USD, and 107.63 USD. The support levels are 91.73 USD, 88.04 USD, and 83.78 USD.

LTC may lose more value in the coming days. Investors should now aim at the support level. However, holding for a long-term may not disappoint, as it has strong fundamentals to support the growth.

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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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