Price Analysis

Litecoin reaches $53; Doesn’t Seem to be a Favorable Day for intraday Investors

  • The intraday recovery stalls in Litecoin
  • The current price movement indicates the declining trend

Litecoin (LTC) was seen booking losses from the past couple of days. The improvement that the coin faced yesterday was short-lived and the price is turning back and is currently trading at $53. The price seems moving towards the immediate support level.

Yesterday, the price touched a high at $55.13 and a low at $52.35. Let’s have a look at LTC’s current price chart.

Litecoin to USD Price Analysis:

Litecoin Price Chart
Litecoin Chart by TradingView

Yesterday, the price started the day with a fall as the counters moved from $52 to $51 by 1.71%. Later, there was an escalation spotted in the coin and the recovery took LTC price to $53 by 3.33%. Again an upsurge in the price took it to $55 by 3.48%.

The intraday movement in price brought an uptrend of 3.54% as it closed the day at $54.50. Today, the price jumped to $55 from $54 by 1.05% and the price kept falling thereafter. The current trading price is $53 with a loss of 3.26%.

The current market trend is reversing to the price point, from where the uptrend started. The coin has breached the immediate support level. There are also some indications that next level could also be broken. The other calculated resistance and support levels are as follows:

Resistance Level Price Support Level Price
R1$55.89S1$53.11
R2$56.9S2$51.34
R3$58.67S3$50.33

LTC is counted amongst the result-giving cryptocurrencies. We are hoping for a positive change in the price and it is recommended for long-term investors.

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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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