- Litecoin price has failed to break the $40 area
- Litecoin price gained 7.7% in the last 24-hours crypto sentiment remains positive.
- The overall sentiment still didn’t help LTC break a key hurdle
Litecoin news today – The cryptocurrency market began the week on a good note. The market outlook was positive as top coins began to see small bullish signs. One of the beneficiaries of the new market action was Litecoin. The price of Litecoin has reportedly had a good beginning to the week. The trading pair (LTC/USD) managed to push in gains of 7%. This was the case for most major cryptos. At the time the LTC/USD pair was the second-best performer. Let us see how LTC price gained and failed to move past the $40.0 area despite bullish outlook.
Litecoin (LTC) Price Today – LTC / USD
Can the Litecoin Bulls Break This the $40 Area?
When you take a closer look at the LTC/USD daily chart, we will see that LTC’s blue psychological 40.00 area is now the coin’s closest resistance area. When it comes to the support areas, the red horizontal positions just a little above the $34.50 area are now becoming prominent. When you consider things for the coin on a bigger scale, we can conclude that $30.00 looks like the next support area. However, the bears may need to retake control of the coin’s price will be pushed to that point. The long term outlook for LTC/USD shows that the price trend for the asset is still down. At least until it reaches the $43.97 area. Hence, investors who are counter-trend trading are advised to show caution.
Litecoin LTC Price is Trading at $39.436 at Press Time
The price of Litecoin was reportedly trading at the $39.436 area at press time. The coin is reportedly up by 10.16% over the last 24-hours. The gains posted by Litecoin were the biggest single-day percentage gain that was posted by the asset since March 23, 2020. The move upwards has pushed the overall market of Litecoin to the $2.509 billion. At its highest position, the market cap of Litecoin was at $14.099 billion. The Litecoin price had traded with the ranges of $39.035 to $39.443 over the past 24-hours. During the last seven days, the price of Litecoin has seen its value rise, as it gained no less than 17.5%. The overall trade volume of LTC traded at $3.604 billion. It has also traded within the range of $32.4169 or $43.4857 in the last week. At Litecoin’s current price level, the coin is still down by about 90.61% from the position it reached when it posted all-time highs on December 12, 2017. This point is $420.00.