- The Litecoin price rose by 1.06% as of January 22.
- The coin ended trade at $58.10 on Wednesday.
- The price of LTC fell to $57.03 as trade opened today.
Litecoin news today – the Litecoin news update today shows many actions for the asset over the last 24 hours. The coin pushed in a slight gain as of yesterday and dropped by a small percentage as of when the Litecoin latest update came to light. The coin has been playing things slowly and gathering pace over the last few months. It is just the market’s volatile nature that has kept any possible extended bull period from happening. The price of Litecoin reportedly rose by 1.06% on Wednesday. This came after it gained 0.65% the day before. In the end, the coin closed trade at $58.10 on January 22 before dropping slightly this morning to trade at $57.03.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Eventually Rallied to $59.13 Mid-morning Before Dropping to $56.92
While steering clear of Litecoin’s first major support position at the $56.91 area, the digital currency rallied to reach a mid-morning intraday point of $59.13. After which the price of Litecoin broke the first major resistance area at $58.03. It also broke the second major resistance position at $58.56 before it eased back. As of when this report was published, the price of Litecoin was down by 2.03% and trading at $56.92. A bearish opening to the day (January 23) saw the Litecoin price slide from its early morning high point of $58.20 to reach a low of $56.89. The price kept lingering in this region.
What do the Technical Indicators for LTC/USD Say?
The price of Litecoin would have to break back through its first major support position to reach the $58 level and bring the first important resistance level to $59.14. Any form of support from the rest of the market would be required. All in all, for Litecoin’s price to break back to $59 levels it’s price action must follow the above-mentioned pattern. Barring the occurrence of a broad-based cryptocurrency rally, the resistance position of $58 would probably limit any chance of an upside extension. Failure to move to the $58 level would probably see Litecoin price spend the trading day in the red zone. A fall back to this morning’s low of $56.89 would bring a second major support position of $55.99 into play. On the other hand, barring a crypto meltdown, the Litecoin price should stay clear of sub-$55 on the day. The coin’s major support level stood at $57.04 with major resistance resting at $59 at press time.