Price Analysis

Will Litecoin Price Continue to be Under Bear Radar?

  • Litecoin price has been under the bear pressure from the past month as seen from the 30-day price chart

Litecoin (LTC) price has been pushed by the bears below the baseline for the major extent in the past one month. Like other altcoins, LTC has been facing the bear pressure in the crypto market. The one-month price chart indicates fluctuations in LTC price in the range of $63 – $78.

LTC to USD Price Analysis:

Litecoin price has gone through a lot of fluctuations inclined mostly towards the downward range, since the past month as seen from the 30-day price chart, due to the continual bear pressure in the crypto market. From a high of $75.0334 on Aug 25, the price of LTC went down to $63.0816 to the extent of 16.05%. On Sep 03, the price had a short rally at $70.3928 to the extent of 11.87%. With the bears putting pressure, the price again went down to $64.7890 on Sep 07 to the tune of 7.77%. Then on Sept 18, the price went upwards to the extent of 21.08% at $78.2731. But this was short-lived as the price again fell to $71.9251 to the tune of 8.11%. With the bear presence still strong, the price today has fallen by 7.64% to $66.4330.

Litecoin Price
Litecoin Chart By TradingView

Litecoin price had been performing well till the bears set in the crypto market in July. The coin had been on a gradual rise since the beginning of the year till June 23, 2019, when the price had peaked. After that, with the bears getting stronger and putting pressure, the price went on a downswing. Litecoin price has been trying to regain its upward momentum over the past few days, but the bearish trend is expected to continue for the short-term. Analysts expect LTC to rebound by the year-end and consolidate its position in the upward range.

Investors can buy at the current rate before the bull run sets in the crypto market. Short-term investors can trade cautiously by watching the volatility in the market and make gains.

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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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