Price Analysis

Litecoin Price Analysis: The Declining Trend Came Back Haunting the Litecoin, Stooped to The Level of $85

The partnership of Miami Dolphins and Litecoin Foundation is finally evident on the ground for the first time in yesterday’s match of Miami Dolphins at Hard Rock stadium. Although the altcoin is facing a bit of trouble at present, this partnership will be a huge milestone for Litecoin in the long run.

Current Statistics of Litecoin:

  • LTC price was trading at $85.384.
  • Against Bitcoin, the Litecoin was valued around 0.00719952
  • With an ROI of 1,876.60%, the market rank of Litecoin is 5th in the crypto chart at present.
  • Additionally, the Market Cap of the Litecoin was 5,354,929,385 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 3,055,478,990 USD.
  • Again, the total LTC coins circulating in the market was 63,006,281 LTC.

LTC to USD Price Comparison:

Litecoin price chart - Aug 10
Litecoin Chart By TradingView

On July 16, Litecoin was trading at 90.342 USD. However, 25-days hence today, the altcoin has shown a bit of decline around 5%. However, in a week of trading, the crypto has declined by 9.54% from the level of $94.35 on August 04. Litecoin opened the other day at 90.09 USD and closed the intraday trading at 84.44 USD with a substantial decline of 6.27%.

Litecoin Price Prediction:

After hovering around $90 mark for a couple of days, the crypto declined today, altering all our prediction. The movement in Litecoin seems to be unpredictable at these levels. But for now, the immediate support is at 81.83 USD. Additionally, the resistance for the altcoin is at 88.7 USD.

Conclusion:

The immediate future of the Litecoin is a terrifying one. Additionally, the short, as well as the medium-term, the trend is bearish. The coin might give some return in the long-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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