Litecoin (LTC) is unquestionably among the most popular cryptocurrencies of all times. In terms of awareness, Litecoin is right there with the likes of Bitcoin and Ethereum. Litecoin originally started off as the 'silver to Bitcoin's Gold'. Over the years, however, Litecoin has formed a strong, independent identity of its own. Let us take a quick look at the Litecoin prices over the past week and how they are expected to move in the near future:
Litecoin (LTC) Price Over The Last 24 Hours:
In the last 24 hours, Litecoin has slid down by 13%. The currency began the day at a price of $167 and is currently priced in at $143, which is the lowest point of the 24 hour period. Litecoin isn't the only currency to have witnessed this price slowdown as most cryptocurrencies have been losing value. Litecoin's market cap too fell from $9.2 Billion to $8 Billion in 24 hours.
Litecoin (LTC) Price Over The Past Week:
Litecoin prices over the past week have been going through many ups and downs. The currency began the week at a price of $170 and a market cap of $9.5 Billion - but dipped to a low of $107 - with a market cap of $5.9 Billion in the middle of the week. Over the next few days, the price recovered a little and currently stands at $143.
Litecoin Price Expectations
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Technical Analysis of Litecoin (LTC) | Image: Tradingview[/caption]
The graph above shows the fact that Litecoin has been trapped in a downward channel (indicated by the blue lines). There is a tough resistance which is preventing the price from rising and the slope is causing the price of Litecoin to fall continuously! For now, investing into Litecoin can be a rather risky investment as the price might fall back to the $100-$105 levels again.
There is a strong support that Litecoin has at the $105 level from where it bounced back previously as well. Once the markets hit rock-bottom at the $105 mark, bullish investors are all set to rush-in and invest heavily, taking advantage of the low prices. For those looking forward to investing, it is best suggested to wait.
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: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions - which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.