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%.

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 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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