Price Analysis

Litecoin Price Analysis: Market Fell By A Substantial Margin, Also Attracts Litecoin (LTC)

For all the Litecoin enthusiast out there, a total of 504 blocks have been mined since the halving. Almost 21.65 hrs has elapsed since the halving, and it takes 21 hrs for 504 blocks. This means 97% of pre-halving hash rate is still mining LTC.

Current Statistics of Litecoin:

  • The price of Litecoin (LTC) against USD is around $92.194.
  • Against Bitcoin, the crypto is valued at 0.00797060 BTC per chip.
  • With an ROI of 2,044.25%, the coin is currently ranked at 5th position in the crypto market.
  • Additionally, the market capitalization of the coin was 5,807,361,332 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 3,040,169,986 USD.
  • Again, a total of 62,987,056 LTC chips were circulating in the market, at the time of writing.

LTC to USD Price Comparison:

Litecoin Price Prediction
Litecoin Price Chart

On July 13, Litecoin (LTC) was trading at 103.368 USD. However, today after 25-days, the altcoin has declined by a margin of 10.80%. Similarly, in a week of trading, the crypto has gone down by 6.22% from the level of 98.599 USD on August 01. The crypto has even made a sudden fall yesterday after a couple of days of flat trading. On the other day, the coin opened at 96.89 USD, and with a substantial intraday decline of 3.94%, it wrapped the day around 93.07 USD.

Litecoin Price Prediction:

Yesterday, the altcoin was strongly moving toward the 100 USD price mark in the first half but took a plunging turn in the latter part of the day. Still, we would like to stick to our earlier prediction of Litecoin trading around 150 USD to 200 USD by the end of 2019. For now, the immediate support for the crypto is at 90.16 USD. Additionally, the resistance for the altcoin is at 97.48 USD.

Conclusion:

Although halving has helped Litecoin in strengthening its market grip, the market has dragged it down. At present, the short-term trend is bearish. However, we speculate that the crypto will give a good return in the long and medium-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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