- Litecoin price saw a bullish start over the last 24-hours
- The coin managed to reach an intraday high at $48.47
- Litecoin LTC price remains in the bearish area
Litecoin news today -The price of Litecoin dropped by 1.04% three days ago. This happened after it also slides by 2.26% a day earlier. Litecoin ended trade yesterday at $46.58. Now, a bullish start to trade today saw the coin’s price reach a mid-morning intraday high point of $47.84 before it reversed. Falling short of its initial major resistance of $48.47, Litecoin dropped to a morning intraday low of $45.79. Avoiding its first major support at $45.46, the coin’s price moved back to $46.9 before easing back. Let us see how the Litecoin price has performed over the last 24-hours.
Litecoin Price Prediction – How Litecoin’s Price Action Looks For the day ahead
Litecoin will need to move through the $46.75 level if it must support a run at the major resistance of $47.68. Support from the entire market would be required, for Litecoin price to break back to the $47 area. Barring a wider crypto rally, the initial major resistance position and Tuesday’s high point of $47.84 would likely limit the chances of any upward action. Failure to move past the $46.75 level could see the price of Litecoin struggle throughout today’s trade session. A fall to the morning low of $46.13 would bring LTC’s first major support into play. This will be the $45.63 area. Barring an extended sell-off, the price of Litecoin should be far from its second major support of $44.69.
Litecoin News Today – Litecoin Surged by 13% to Test the $50 Area
Litecoin followed Bitcoin’s lead as it momentously surged by 13% to test the $50 area before retracing over the following 24-hours. At press time Litecoin was trading at $47.90. If Litecoin continues trading below the $50 mark and the daily 200 Moving Average at $52, the bears will remain despite the upcoming Bitcoin halving event. Bitcoin will reportedly go through a reward halving soon. This is an event that has been very kind to the cryptocurrency market as a whole going by historical data. The past halving event for BTC happened in 2016.
Litecoin (LTC) Price Today – LTC / USD
It was regarded as the catalyst to the 2017 bull run that saw the price of Litecoin rise to $420. Meanwhile, the BTC price reached 20k at the time. Litecoin typically rallies when Bitcoin consolidates after rising because traders take their profits on Bitcoin. If the price of Litecoin can piggyback on the expected success of Bitcoin considering that its halving is days away. BTC is expected to move high. If LTC follows its price targets will pop up at $59, $64, and $72. But before this price action can become reality, the coin must break above the 200 Moving Average.