Litecoin Reverses Tuesday’s Upsurge; Price Drops to $55

  • Litecoin price continues to drop after a day of recovery.

Litecoin (LTC) price returned to the price range where it started the trading duration, yesterday. The intraday movement spiked some hopes among the traders. There was a strong belief that the uptrend would stay but now looks like it was a 1-day show as the coin is again slipping with tremendous speed. The intraday traders are worried due to the same.

If we look at yesterday’s chart, LTC was seen touching a high at $57.57 and a low at $55.14 and the trading volume marked at $2,325,767,310.


LTC to USD Price Comparison:

The data feed is taken from Biftinex on October 2, 2019, at 05:46:09 UTC.

Litecoin Price
Litecoin Chart By TradingView

Yesterday, Litecoin started trading around $56.32. Immediately, the price dropped to $55.64 by 1.22%. There was a recovery in price which took it to $57.71 by 3.73%. The coin started falling from there and went to $55.26 by 4.24%. There was again a recovery which took it to $57.07 by 3.28%. Unable to hold, the price slipped again to $55.14 by 3.338% and the day closed at $55.9. Today, LTC jumped in the opening hours to $56.6 marking a progression of 1.29%. However, currently Litecoin has returned to trade at $55.

Litecoin is said to have great potential. The coin is expected to stand in a similar position as Bitcoin in some time. During the first two quarters, LTC has superseded BTC which is extraordinary. The third quarter brought a sudden change in the momentum of the coin which is still intact.

The traders interested in Litecoin are recommended to opt for a long-term investment as it is likely to bring a colossal profit.

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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