- Litecoin News Today – LTC Price Falls to $72 Level
- Litecoin lost about 5.82% to trade at the $72 price position
- The LTC/USD pair lacks support from the short-term MA
- LTC price traded beneath the rising channel
Litecoin news today – The price of Litecoin has reportedly been marred by an overall bearish pressure that the digital asset market has come under in recent days. In the past 24 hours of trade, the LTC price has lost up to 5.82%. The value of LTC has also been dragged into the downward region to $72.1 from the $76.5. However, in the above-mentioned time-frame, the Litecoin price faced huge volatility. However, recently, the coin traded slightly upwards. There might actually be a short stint in way of price recovery for LTC in the short-term. Let’s see how it got this for the digital asset.
The Price of Litecoin Opened the Day at $76.56
A close look at the daily chart for LTC/USD shows that the digital currency opened the day trading at the $76.56 area. In the following 3 hours of trade, the price of LTC added another $3.95 and went on to reach the $80.51 mark. After getting to the $80 mark, the coin started to trade downwards. It eventually went on to register a 16.07% correction which cost it about $12.94 inevitably pulling the price of Litecoin down to $67.54 at 16:53 UTC. However, the digital currency could not be kept on this low point for an extended period and gathered some momentum before it managed to add another 12.21% as it approached the close of trade for the day. In the past two and a half hours of the trade from the last 24 hours, the price of Litecoin again dropped by 5.37% falling to $71.75.
Litecoin (LTC) Price Today – LTC / USD
LTC Price Traded Under the Rising Channel
Additionally, in the past week, the price of LTC traded beneath the rising channel. From the final two days, the digital asset marked a steep downside movement. A closer look at the technical indicators for LTC shows that the current price of the coin is lagging behind the 50-day moving average by a marginal value. The MACD pattern is moving above the signal line despite the sudden and overnight drop in value. This hints that in the upcoming days, LTC may fair better. The digital currency may trade in a familiar range to what we have seen this year. RSI is currently around the 55 region with no extremities. Per the current price movement, the price of Litecoin may post a slight recovery and remain above the $72 mark.