Litecoin News Today – Litecoin Hits a Mid Morning High of $47.50 – May 19th, 2020

  • Litecoin LTC began the day bullish at 43.64
  • The digital asset moved to a mid-morning high of 47.50
  • At press time Litecoin price was down by 0.77% at $44.98

Litecoin news today – The day has started on a bearish note for most of the major digital assets. One of the top coins, Litecoin, has failed to stay above its key levels despite reaching a late morning high and the digital asset could see more losses later in the day. The price of Litecoin gained 3.73% on Monday after posting a 1.11% gain from the previous day. Litecoin ended Monday’s session at $45.33. A bullish start today saw the coins’ price surge from the intraday low $43.64 to reach a mid-morning intraday high point of $47.50. In the process, Litecoin broke its major resistances before sliding to $44.57 later this morning. The reversal meant that LTC’s price fell back to its third major resistance at $46.60.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$57.28

Litecoin News Today – Litecoin broke it’s Second Major Resistance at $45.18 After Finding Support

Now that it has been confirmed that after finding a support area moving forward, the price of Litecoin broke back to its second major resistance area at $45.18. Now a look at the chart shows that the digital asset would need to keep moving until it goes through the $45.50 position. This is the only way that the price action can bring the first significant resistance at $47.34 into play. However, note that the digital asset will need support from the broader cryptocurrency market. It will be integral to Litecoin’s chances of breaking out from its morning high of $45.35. In the absence of an extended widespread digital currency rally, the first important resistance area and morning high point would limit any movement to the upside.

Litecoin Price Prediction – Failure to Break $45.50 Could See Litecoin Fall Further

If the Litecoin price fails to break $45.50, it could drop further into the red zone. Another fall back tI its morning low of $44.75 would see the return of the first major support at $43.48. In the absence of an extended digital currency sell-off, the price of Litecoin will likely steer clear of the levels below $43. Finding support going in the coming sessions, LTC’s price managed to break back through its second major resistance area at the $45.18 position. As of when this content was written, the price of Litecoin was reportedly down by 0.77%. It is currently changing hands at $44.98. A bearish beginning to the day ensured that the price of Litecoin fell from its early morning high of $45.35 to post a low of $44.75. Early on before press time, LTC had not tested any of its major supports and resistances.

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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