Litecoin Price Exhibits Short-lived Recovery; Price Floats Around $54

  • Litecoin price moves towards the immediate support level
  • The recovery indicates stalling signs

Litecoin (LTC) registers recovery with its intraday movement. The improvement in the trading price of the coin is anticipated to have a short span. The intraday traders might experience a loss by the end of the day. The entire market is suffering currently. The volatility has created chaos in the market. The traders are eagerly waiting for recovery.

LTC is a result-yielding coin. The currency is anticipated with time. For now, let’s have a look at the intraday price movement to understand the current movement more precisely.

LTC to USD Price Analysis:

Yesterday, the coin started dealing around $53.9 when the price immediately fell to $52.9 by 1.87%. There was a major escalation spotted in the coin that took it to $55.80 by 5.30%.

Towards the end of the day, LTC price marked a loss of 1.18% as it touched $55.14.The intraday price movement marked a progression of 2.48%.

Today, LTC price opened the trading day at $55.4 while the current trading price (price at the time of penning down) is $54.1 which reflects a loss of 2.09%.

Litecoin Price Chart
Litecoin Chart by TradingView

Litecoin is anticipated to recover in some time. Today, the price seems moving towards the immediate support level. The currency has a high possibility of violating the next level too. Here is the resistance and support level chart of the coin.

Resistance Level Price Support Level Price
R1 $55.84 S1 $53.62
R2 $56.75 S2 $52.31
R3 $58.06 S3 $51.4

The market is anticipated to improve in the upcoming days. The same might push the price movement in LTC too. For interested traders, the currency is recommended for long-term investment. It would give the desired result And to understand this scenario, they must check Litecoin Forecast data to get price update information for upcoming years.

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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