Litecoin Price (LTC) Oscillates Between $71- $73 in Past 24 hours

  • Litecoin price keeps it stagnant around $72 for the major extent since past 24 hours.
  • The market today has fallen by a notable number from $4,597,966,230 to $4,585,654,632 as compared to yesterday.
  • Litecoin’s 24h volume also records a dip.

Litecoin has been constantly trading around $72 price area since yesterday. It’s been 3 days that the coin is trading below $75, testing support at $70 now. The coin exhibits 5 major movements that are noteworthy and could have led LTC price to either breakout in the upward or downward direction.

LTC to USD Price Chart by TradingView:

The below Litecoin price chart is a data feed taken from Coinbase as on 28th August at 12:21 UTC.

Litecoin Price Chart
LTC Chart by TradingView

The short-term moving averages have rightly held current trading price of LTC around $72 since past 2 days now. The 30 mins movement of the coin shows in the past 24 hours show that LTC dipped by 1.94% in early hours yesterday trading from $73.45 to $72.02. Later, after a flattish trend the coin breached slightly above $73 at $73.61. But the coin accompanied downward movement at the onset today and fell by 2.82% to trade at $71.53. Currently Litecoin is trading at $72.55 slightly above the lowest in said time frame.

Technical Indicators:

With a constant and a flattening trade LTC slips in the strong selling pressure zone, getting support from the 5-day SMA and 5-day EMA around $72. Unfortunately, the current trading price of Litecoin is 30.33% less than the long-term moving average or the 100-day SMA ($104.14).

The MACD of LTC price had a slight bullish crossover below zero, at the time of penning down, with RSI remaining above 50. However, as per Litecoin Predictions, we can say that the coin might initiate towards recovery.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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