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 During the first two quarters, LTC has superseded BTC which is extraordinary.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.

However, as per our Litecoin Price Forecast, we can say that the interested traders for LTC should 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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