Litecoin News Today – Litecoin Makes Progressive Price Movement As Cryptocurrency Market Recovers – March 20th, 2020 

  • Litecoin LTC price makes progressive movement
  • Litecoin LTC price was highly volatile in the last 24-hours
  • Litecoin LTC price violated its immediate resistance point 

Litecoin news today – Today, the tide has begun to change in favor of digital assets as the crypto market posted a strong recovery. The bulk of the digital assets have made heavy improvements in their prices. The price crash that just happened only a week ago started small and eventually turned into a period of tremendous losses for digital currencies. This time may be partially over. This time around, the recovery of the crypto market is taking place at a very quick pace. This action could help the cryptocurrencies to stay away from the bearish pattern that began last week. One of the assets that has improved is Litecoin. Litecoin was originally victimized and as of March 16, the coins price dropped steeply to the $30 area. After this, it shifted upward and managed to get the momentum that pushed it to $35 at press time.

Litecoin Price Prediction Shows LTC/USD Displaying High Volatility

Yesterday, during the first hour of trade, the price of Litecoin stood at $34.63. In the next 5 hours after that, the price of LTC recovered to $34.90. This improvement couldn’t hold for an extended period and thus it dropped to $32.53. After that movement, the digital asset also marked a moderate hike. The price of Litecoin improved to the $33.74 area before pulling back again to $32.50. Later, the coin recorded another heavy improvement with its price improving to $34.53. In the following 4 hours, the digital currency dribbled to the $33.15 area but once more it posted a sharp upward action and closed at $35.23 at the end of the day.

Litecoin LTC Price Has Violated its Immediate Resistance Point at $34.29

This morning, the price of Litecoin began trading with a spike to the $35.41 area, but the same course was followed by another huge plunge in the coin’s value. The price of Litecoin slipped to $34.13. From this position, LTC/USD started a move that helped it improve to the $35.11 area. Per the MACD indicator for LTC/USD, the latter has overlapped the Signal pattern and the histogram as well which marks the formation of bullish divergence for the digital asset. The digital currency has also violated its immediate resistance position at $34.29. The next resistance area which is at $34.89 is also affected. The cryptocurrency is now heading towards some major resistances at $35.65. It is beginning to look like the same area would be breached in the next few hours. However, if the trading pair reverses this trend, the price of LTC may correct downward before finding support at $34.

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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