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Price Analysis

Litecoin Price Analysis: The Falling in Crypto is Continued; LTC Price Stooped Below $75 Mark

The ongoing protocol upgrade in Litecoin is the main driving force for the slowdown in the crypto. It has been the lowest that the crypto has hit in the current year. It seems that the trouble in Litecoin is not going to resolve soon. The declining of crypto below has engraved a sense of panic among investors.

Current Statistics of Litecoin: 

  • LTC price was trading around $74.292.
  • Against Bitcoin, the crypto was valued around 0.00738544
  • ROI of Litecoin is at 1,630.11%
  • Additionally, the market cap of the LTC coin was 4,690,254,063 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 3,200,936,705 USD.
  • Again, the total LTC coins circulating in the market was 63,048,056 LTC.

LTC to USD Price Comparison:

LTC price prediction
LTC price chart by TradingView

On July 22, Litecoin was trading at 99.356 USD. However, today after 25-days, the altcoin has declined by a huge margin of 25.23%. Similarly, in the weekly trading, the crypto has gone down by 14.39% from the level of $86.782 on August 10. However, intraday trading helped the crypto in gaining some strength. As it opened, yesterday, at 76.13 USD and closed the intraday trading at 76.39 USD with a cumulative hike of 0.36%.

Litecoin Price Prediction & Conclusion:

Undermining all the earlier support levels, the crypto has made a sharp plunge in the price from the last couple of days. At this level, making any future prediction is quite impossible. For now, the immediate support for Litecoin is at 73.42 USD, and the resistance is at 78.93 USD.

Charlie Lee stated, in the interview, that no one is interested in working on Litecoin protocol development work and further expressed his displeasure on the issue of lack of any significant progress on the development of Confidential Transactions. These statements might be stunning one for some Litecoin holders, but it is not the first time that there is speculation if Litecoin being dead. These ups and downs are part and parcel of the Crypto space.

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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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