Litecoin News Today – Litecoin LTC Price Began Today’s Trading Down by 1.54% Against the USD – May 27th, 2020

  • Litecoin LTC price began Trade today down by 1.54%
  • The coin has underperformed compared to other digital assets
  • Litecoin LTC is currently close to its 20 and 50-day MAs

Litecoin News Today – The price of LTC reversed the 2.09% gain it accumulated on Monday, yesterday. A mixed start to Tuesday’s session saw the coins’ price rise to a morning intraday high point of $43.07 before reversing. The coin fell short of its first major resistance area at $43.59 before sliding to an afternoon intraday low of $41.79. It eventually fell to its first major support at $42.04 before staging a recovery to end the session at $42. Now, on May 27, Litecoin seemed to rise to 0.33% at $42.43 but it is now down by 1.54%. The bulls forced it to move from $42.23 to $42.60 before correcting backward. LTC left it’s major support and resistances untested in the early hours of the day.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$41.86

Litecoin Price Prediction – Litecoin LTC Price Closed its 4-hour Candle Rising by 0.62%

Litecoin price closed it’s last 4-hour candle up by 0.62% indicating that it’s the second candle in a row increased as well. Litecoin has ranked number 4 since the last 4-hour candle in percentage price alteration. Litecoin began today at $42.28, trading down by 1.54% from Tuesday. This move happened with LTC holding a lower volume. Users trading LTC should know that Litecoin was reportedly the worst performer among the top digital assets over the last 24-hours. Coming into today the price of Litecoin is now approaching its 20 and 50-day moving averages. This move is set to act as a price barrier for the digital asset. Litecoin’s volatility has been contracting in the last two weeks relative to how it was during the last 30-days.

Litecoin LTC Price Prediction – The Clearest Pattern for LTC Exists Via the 30-day Timeframe

Whether the level of volatility will revert or not remains to be seen. We can only wait to see. The clearest trend for LTC can be seen in its 30-day timeframe. Here the price is moving down in that time frame. Litecoin must also avoid going below the $42.40 levels if it wants to bring back it’s first major resistance position back to play ($42.98). Support from the rest of the digital asset market would be required for the price of Litecoin to break from its morning high of $42.60. If there is no extended digital asset rally, Litecoin’s first major resistance would likely limit the chances of any upside movement. Failure to avoid heading lower than $42.40 could see Litecoin’s price reverse. A fall to its morning low of $42.23 will likely bring the fit’s significant support of $41.70 into play. In the absence of an extended sell-off, Litecoin must avoid its second major support of $41.10.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.