Price Analysis

Litecoin Price Analysis: LTC Falls below $90; May Soon Touch as Low as $86

  • Litecoin (LTC) is down by 1.74% over the last 24 hours and it is now below 90 USD.
  • The coin may have to put a lot of effort to fetch a price rally to retain the investors’ base.

Litecoin has finally moved below 90 USD with a 1.74% cut in the value against USD overnight. There have been six major price variations in the last 24 hours and none of them could take the coin beyond 91 USD. There are many more obstacles expected on the way of Litecoin. It may next find shelter at the next support level at 86 USD. Let us analyze the current details of the coin.

LTC Price Statistics-

Litecoin (LTC)9th August 02:20 UTC
Rank5th
ROI (Return on Investment)1,977.45%
Coin Circulation62,997,731 LTC
Market Cap5,643,978,749 USD
Value in USD89.06 USD
Value in BTC0.00753098 BTC
24h Volume3,010,815,994 USD

LTC to USD Price Comparison-

Litecoin price chart August 9
Litecoin Price Chart by TradingView

Litecoin, after a day of negative growth, shocked the market when it again opened with a fall in the value. From 02:30 UTC, the coin started weakening and lost 2.58%. 91.49 USD at 02:31 UTC was the highest for Yesterday. It was followed by a small price correction of 2.02% and again the coin took a dip between 09:09 UTC and 14:24 UTC. This third variation took the coin to its lowest level of 87 USD. Again at 14:24 UTC, the coin started inclining and over the next 3 hours and 45 minutes it could jump to 90.64 USD. The next two swings created an almost perfect inverted pyramidal growth pattern with a 2.46% loss and 2.20% growth simultaneously. Litecoin closed the day near 90 USD and it is close to 88 USD two hours after the opening of today.

Litecoin Price Prediction-

Litecoin is on one of its worst phases. The coin may fall to 86 USD by the end of this week. However, the medium-term seems bullish and to the long-term holders, the coin is likely to give good returns. These are the details of the resistances and supports of the coin.

Litecoin (LTC)
1st Resistance91.66666667 USD
2nd Resistance93.30333333 USD
3rd Resistance94.88666667 USD
1st Support Level88.44666667 USD
2nd Support Level86.86333333 USD
3rd Support Level85.22666667 USD
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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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