Price Analysis

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.

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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.

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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