Litecoin has managed to start recovery from the last two weeks of a downward trend. Over the last 24 hours, it has been up by 9.03% and the LTC price has now touched 40.31 USD. It has witnessed three major price variations in this period.
Litecoin Price Analysis
LTC was being traded at 36.97 USD at the starting of the day, and its first major price swing happened between 03:08 & 13:22 UTC, and over these 10 hours and 41 minutes, it lost 1.89 USD and got placed at 36 USD, the lowest of the day. It was followed by a 15.28% hike that added 5.50 USD to the value and pushed Litecoin price to 41.50 USD by 20:33 UTC and this was the highest point of the day. The last variation happened between 20:33 & 02:35 UTC, and in these 6 hours, LTC lost 1.15 USD value and pushed the price to 40.35 USD.
Litecoin’s market cap has shown a significant decline in the last 24 hours. On December 18, it was at 2.596 billion USD, whereas it has fallen to 2.588 billion USD today.
As per the current trend, LTC coin may find the next halt at the resistance of 42.36 USD in the coming few days. Investors are advised not to sell now as it may show decent growth in the medium-term.
Resistance and Support levels
R1- $42.36, R2- $43.94, R3- $46.79
S1- $37.93, S2- $35.08, S3- $33.50