Will Litecoin Accompany the Bearish Sentiment and Keep Falling?

  • Litecoin price has been under severe pressure from the bears and the price has been below the baseline, as observed rightly from the one-day price chart.

Litecoin price has been struggling to maintain a steady position in the ongoing bear market volatility. The bears are continuing their price onslaught and are in no mood to relent as can be seen from the one-day price chart where the price for LTC has been moving in the range of $55 – $67.

LTC to USD Price Comparison:

The price of Litecoin has taken a severe beating due to bear pressure as seen from the one-day price chart. From a high of $66.8750 LTC fell to $56.2300, fall being to the extent of 16.71%. The price rose slightly to $59.25 by 5.37%. Litecoin continued to be below the baseline with the price falling further to $55.69 to the extent of 6.01%. Today, the price is at $56.64 (at the time of penning down), the rise being to the extent of 1.71%.

Will Litecoin Accompany the Bearish Sentiment and Keep Falling?
litecoin price
Litecoin Price Chart by TradingView

Litecoin Price Prediction

LTC price has had a good start to the year and was on an upswing till the bears took over the market in July. There onwards, it was on a downswing from where it is struggling to recover now. The current phase, which is expected to be for a short span is making the investors wary of any further investment moves, but by analyzing the current trend and as per Litecoin predictions, analysts are still hopeful about the future potential of the coin. They feel that LTC has had a steady history and should bounce back by the year-end.

Existing investors should continue holding their investments for a long haul. Short-term and intraday traders wouldn’t gain much in this current volatility as the Litecoin is under continual bear pressure.

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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