Litecoin’s dismal performance in the past few days has been the talk of the town. A few months ago, LTC price used to mount as high as 100 USD but now it is struggling to keep its head above 56 USD.
Litecoin Price Analysis:
Litecoin (LTC) opened the day trading at 57.57 USD and the first swing of LTC to USD started at 02:08 UTC and within no time it fell to 56.71 USD after a 3.01% decrement. It was followed by a hike of 0.95% that added 0.54 USD to the value and this swing pushed the value to 57.25 USD. The last swing happened over the next 4 hours and 38 minutes, and this swing took 0.62 USD from the value and made it roam around 56.60 USD.
Litecoin’s last 50-days’ performance is worse than its last 20 days’. The current price trend is above its 50-day and 20-day MA. It hints at the upcoming strength of LTC in the upcoming few days. The next resistance is expected to fall at 58.88 USD.
Resistance and Support levels –
R1- $58.14, R2- $58.88, R3- $59.45
S1- $56.83, S2- $56.26, S3- $55.52
