After days of struggle, Litecoin has finally gained some stability. Over the last 24 hours, it has been up by 4.32%, and its value against the US Dollar has moved from $33.3 to $34.74. However, as per the overall trend, we may not expect any quick gains in the short-term movement.
LTC Stabilizes Around $34 After Sharp Drop
If we look at the price trend of Litecoin over the last 30 days, it was trading at a high of $80 on February 16. However, from this high, LTC started trading downwards, and along with major cryptocurrencies, it fell tremendously. Yesterday, Litecoin price was at $33.30 in the first hour, and over the next 8 hours, the currency gained 8.70% value to touch $36.03. It was followed by a moderate fall of 7.72% that pulled the LTC price down to $33.25 by 13:56 UTC. However, towards the closing of the day, the coin started moving upwards. Between 13:56 & 03:16 UTC today, the price got boosted by 4.42% and touched $34.72.
Litecoin’s current price at $34.74 is holding support from a short-term MA of 20 & 50 days. As per the MACD indicator, no strong indication is seemingly available to expect any significant growth in the upcoming days. However, in the upcoming hours, LTC price may consolidate around $34 price level as per the current movement noticed & our recent LTC Forecast.
