Litecoin News Today – Litecoin LTC Price Tumbles by 20% In Fresh Rout in the Market – May 11th, 2020

  • Litecoin’s price tumbles by 20% in fresh rout
  • Litecoin’s 3 four-hour negative patterns were concluded in the last 24 hours
  • The downside action pushed Litecoin’s market cap to $2.649 billion

Litecoin news today – Litecoin’s 3 four-hour negative streak has now concluded. The candle from the final 4-hour candle closed at 2.23%. Among the top 5, Litecoin ended up at number 3 for the 4-hour candle regarding price changes relative to the final 4-hour candle. The price of Litecoin was seen trading at the $39.996 mark as of 13:00 (17:00 GMT). The coin went down by 20.33% on the day. This latest drop is reportedly the largest single-day percentage loss since the March 12 incident. Let us see how the coin has performed over the last 24-hours to get the above-mentioned stats.

Litecoin LTC Price Prediction – The Decline Took LTC’s Market Cap Down to $2.549 Billion

Litecoin’s move downwards eventually pushed its market cap down to the $2.649 billion which represents 0.00% of the overall crypto market cap. At its biggest point, the market cap of Litecoin was seen at $14.099 billion. Litecoin then traded within the range of $39.996 to $47.012 over the past 24-hours. In the last seven days, the price of Litecoin has also dropped in value, after it lost almost 15.07%. The trading volume of Litecoin also moved about $5.368 billion in the 24-hours to the time of writing. The price of Litecoin has traded within the range of $39.9958 and $49.0882 over the last 7 days. At the current price level, Litecoin’s value is still down by 90.48% from the all-time high price of $420.00 that is set on December 12, 2017, during the bull season.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$48.97

Litecoin Price Analysis – Litecoin Began the day 10.28% Down From the Previous Day’s Opening

Litecoin began the day trading down by 10.28% from the previous day’s open price. This position marked the second consecutive day that the coin has marked a decrease. The price of LTC also moved this way with a stronger volume (yesterday’s trade volume was up by 58.2% from the previous day, and up by 112.85% from the same day last week). Moving average crossovers have always been interesting. For example, Litecoin crossed beneath its 20 and 50 days MA’s as of yesterday May 10. The clearest price pattern exists via the 30-day timeframe. This outcome shows the price of Litecoin moving up through the period mentioned here. This may sound farfetched. However, looking at it from another angle, when you consider that the price of Litecoin has gone down about 16 times during the past 30 trading days, then you will agree that such an outcome is still a possibility.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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