Litecoin’s (LTC) Tremendous Fall Registers 6% Drop

  • Litecoin price drowns to $49 with an aggregate fall of 6%
  • The intraday movement expected to remain flat

The market started with a bearish trend. The big forces like Bitcoin, Ethereum, Ripple, etc were spotted booking huge losses and the trend is likely to remain the same for the entire day. Litecoin (LTC) has marked 6% on the intraday graph and is floating around $49 and holds no sign of improvement during the day.

Yesterday, Litecoin price was seen touching a high at $53.82 and a low at $48.50 with a trading volume of $3,077,488,277.

LTC to USD Price Analysis:

Yesterday, LTC price started trading at $53.31 when the price marginally shifted to $52.6 by 1.20%. The pressure in the coin took the price to $47.80 marking a regression of 9.25%.

After recovering slightly, LTC price started hovering around $49. The coin closed the day at $49.56 with a regression of 7.28%. Today, LTC coin began with a fall. The coin touched $48 with a 2% fall. The currency is currently dealing at $49.30.

Litecoin Price ChartLitecoin Price Chart
Litecoin Chart by TradingView

LTC coin holds high expectations of the traders. The coin was seen touching astounding highs in the first two quarters. The currency is said to take over the market in the coming years, but for now, the situation is disappointing.

Resistance Level Price
R1 $52.8
R2 $55.97
R3 $58.12
Support Level Price
S1 $47.48
S2 $45.33
S3 $42.16

According to the calculated support and resistance level, the price of the coin seems to be inclined towards the immediate support level. It is also possible that Litecoin might slip to the next support level in the upcoming hours. As per the current market condition, we would suggest the traders to hold on to their investments for a while as the improved market would help them earn a colossal profit.

Crypto Destroyer

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