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Price Analysis

Litecoin Price Analysis: Litecoin (LTC) Starts Gaining Strength; Resistance Likely at $132

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  • Litecoin shows five huge price variations in the last 24 hours.
  • The target for 2019 remains around 200 USD.

Litecoin has been one of the most volatile coins in the crypto market since the last few days. In the last 24 hours, it has shown five major price swings.

The first fall happened between 04:32 UTC and 07:55 UTC, and this was accounted for 4.61% of the price loss. It was followed by a hike of 8.02% over the next 1 hour and 37 minutes. This hike helped the coin to get back to 136 USD. Again a fall of 8.58% was noticed between 09:31 UTC and 14:20 UTC. This fall was again followed by a hike of 6.05% that happened over the next 1 hour and 37 minutes. The final price variation was a fall of 8.54% happened between 20:48 UTC and 22:51 UTC.

The medium-term outlook of Litecoin is bullish. And the coin is likely to be around 200 USD by the year’s end. Let us analyze the current details of the coin from Litecoin chart.

LTC Price Statistics-

Litecoin Price Chart - 1 July
Litecoin Price Chart
Litecoin (LTC)1st July 03:13 UTC
Rank4th
ROI (Return on Investment)2,800.07%
Coin Circulation62,464,876 LTC
Market Cap7,805,616,070 USD
Value in USD124.98 USD
Value in BTC0.01134248 BTC
24h Volume5,738,119,114 USD

LTC to USD Price Comparison-

Like all other coins, Litecoin also got its first push at the onset of April. The coin gained over 52.10% between 01st April and 06th April and traded at 91.81 USD from 60.26 USD. It was followed by a fall of 27.14% over the next 23 days to trade around 66.57 USD. Again, a hike of 52.65% was noticed between 29th April and 15th May, where the coin traded around 101.61 USD. Another hike that accounted for 33.54% that led the coin to trade at 117.06 USD was noticed between 22nd May and 27th May. The next hike of 34.97% was noticed between 04th June and 15th June.

The latest swing was a fall of 18.81% over 5 days from 22nd June. The market cap on 1st June was 6,982,765,320 USD, and the value of each coin was 112.41 USD. The current market cap and the value of each coin are respectively 11.78% and 11.18% more than the figures for the last month.

Litecoin Price Prediction-

Litecoin has a bullish outlook for medium-term. The coin is likely to be around 200 USD by the end of 2019. The next resistance points are 132.1933333 USD, 142.1366667 USD, and 148.0133333 USD. The support levels are 116.3733333 USD, 110.4966667 USD, and 100.5533333 USD.

Conclusion-

Litecoin has a huge potential to perform. The existing holders need to wait at least until the year’s end for realizing maximum profits.

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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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