Litecoin News Today – November 24, 2019

  • Litecoin’s second half performance is worse than the first
  • Litecoin (LTC) Showed Three Major Price Swings over the Past Day
  • Litecoin finds new support level

 

Litecoin News Today – Litecoin (LTC) was one of the top-performing cryptos in the first part of this year. However, the second part of the year has been disastrous for the sixth-largest digital currency by market cap. Litecoin was all over the news when it surged enormously and broke over the $150 mark. Since it tested is year-to-date high, the digital currency has been trading sideways. 

Even the Litecoin halving event, which many hoped would restore the price of the coin, failed to ignite bullish movements. Rather, the price of the digital currency plunged further. Litecoin has lost more than $100 from its year-to-date high. 

Litecoin (LTC) Showed Three Major Price Swings over the Past Day

The bears have established their presence in the market and the majority of coins in the market are currently struggling, including Bitcoin (BTC). Bitcoin recently tested a low of $6,700 before it recovered over the $7k level. Over the past twenty-four hours, Litecoin (LTC) has shown three major price swings. The digital currency has also lost about 6.7 percent of its value over the past day. 

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$52.58-7.90%

Litecoin (LTC) plunged and breached the $48 support level. At the time of writing, the digital currency is roaming around the $47 mark. The digital currency seems to have found support at the moment, but the days ahead are not predicted to be in favor of investors. 

Litecoin (LTC) Price Analysis

Litecoin (LTC) started the day around the $50 level. After trading for about 11 hours, the digital currency lost about 10 percent of its value, leaving LTC to USD price at $45. The digital currency also experienced another phase of slump between 11:14 UTC and 14:10 UTC. In these few hours of trading, the price of Litecoin (LTC) plunged by $3.6 and reached $43.71. That was the lowest level the digital currency tested for the day. 

The loss of $3.6 was accompanied by a slight price rally that added $3.22 to the price of the digital currency and pushed it to $46.93. The market cap of Litecoin (LTC) was $3.034 billion yesterday. After the decrease in price, the market cap of the digital currency has plunged to $3.012. 

The 20-day moving average of Litecoin is now at $47 and its 50-day moving average is at $46.95. At press time, the immediate support of Litecoin is the $45 level. Whereas, the immediate resistance of the coin is at the $50 mark, which was its previous support. 

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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