Price Analysis

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$55.84S1$53.62
R2$56.75S2$52.31
R3$58.06S3$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 to the traders during the same.

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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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