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Price Analysis

Litecoin Price Rallies by 5% Amid the Escalated Market

Litecoin price has escalated by 5% over a day. However, the last few days have been quite volatile for the coin. On October 8, 2019, the price was hovering at around $56. Currently, it is trading at $58. The escalation might not be huge, but still, it has struck a hope amongst the traders.

If we look at yesterday’s chart, the currency touched a high at $58.65 and a low at $54.45. The volume marked on the chart was $2,891,486,029. Let’s have a look at today’s price movement of Litecoin.

Litecoin Price Chart:

The chart is taken from Trading View on October 8, 2019, at 04:47:46 UTC for analysis.

Litecoin Price Chart
LTC Price Chart by TradingView

Yesterday, Litecoin started the day with a drop. The price counters moved from $54 to $53 by 1.86%. The price immediately recovered by 3.77% and touched $2.01. The price kept moving up all day and took the final jump from $56 to $58 with an increase of 3.54%. The downtrend was spotted after the jump. The price slipped to $57 before closing. The intraday registered a progression of 5.55%. Today, the progression has been locked. The price moved from $57 to $58 by 1.48%.

Litecoin Price Prediction:

Litecoin (LTC) has shown a remarkable price movement in the first two quarters. The coin superseded the momentum of Bitcoin. However, the last quarter turned out as a huge setback for the coin. We are looking for a similar price movement in the ongoing quarter. In the future, Litecoin is likely to give a tough competition to Bitcoin. All in all, investing in LTC would turn out to be fruitful.

Today’s statistics of LTC states that the market cap is at $3,667,980,012. The 24hr volume is noted as $2,885,537,325. The circulating supply is marked as 63,420,829 LTC. The ROI (Return On Investment) is at 1245.07%.

The year is speculated to close with a bullish note. The currency is recommended for long term traders. The same might help the traders draw high dividends.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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