The crypto market is spotted with a strong recovery. Most of the coins are marking a heavy improvement in the price. The recent price crash spotted improvement, which later turned into a tremendous loss. Well, this time, the recovery is taking place at a rapid pace, which could help the coins to stay out of the ongoing bearish trend. Litecoin was victimized by the same, and thus, on March 16, the price dropped steeply and touched $30. Later, it reflected upward momentum, and today, it is at $35.
Litecoin Recovers After Volatile Swings
Yesterday, in the first hour, the Litecoin price was at $34.63, and in the next 5 hours, the coin recovered $34.90. The improvement in the price couldn’t hold for long and thus plunge to $32.53 by 6.79% at 08:08 UTC. After that, the coin marked moderate hike, and the Litecoin price improved to $33.74 by 3.76%, but pullback again brought the price back to $32.50. Later, the currency spotted heavy improvement, and at 13:55 UTC, the price improved to $34.53. In the next 4 hours, the currency dribbled to $33.15 but again spotted a sharp upward move and closed the day at $35.23. The day-long movement in the currency brought 1.77% progression.
Today, Litecoin began with a spike at $35.41, but the same was followed by a massive plunge in the price. The price counters slipped to $34.13. From this low, LTC price has started improving, and it touched $35.11. As per the MACD indicator, the MACD line overlapped the Signal line and the histogram marking bullish divergence.
The currency has violated the immediate resistance level at $34.29 and the next resistance level at $34.89. The currency is heading towards major resistance level at $35.65 and looks like the same would get breached in the upcoming hours. However, as per LTC Predictions, if it reverses the current trend, LTC price may correct downward and find support around $34.
