Litecoin News Today – LTC/USD Has Recovered from the 56% Crash But Higher Highs Remain at Bay – June 10th, 2020

  • Litecoin LTC has been trading sideways since the last week
  • The coin dropped to $20 in a minute and recovered a minute after
  • The drop posted by Litecoin LTC was felt the most on Bitstamp exchange

Litecoin news today – The charts show that the LTC/USD pair has recovered from the massive 56% crash it posted on Bitstamp exchange. Recall that the coin has been trading in sideways for some time. The digital asset started June 9 trade session at $46.5 today and managed to reach a high of $46.88 before its massive crash that dragged it down to $20. However, the massive drop only lasted for two minutes as Litecoin’s price recovered to its previous position almost immediately. The cause of the massive crash has been attributed to a seller trying to move a huge amount of LTC which ended up destroying the structure of the coin on Bitstamp. Bistamp was the most affected although the drop was also seen on other exchanges.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$59.61

Litecoin news today – Litecoin Has Had a Mixed Week So Far

Litecoin dropped by 1.23% on Tuesday. This was a continuation from a 0.36% decline the day earlier. The coin ended the session at $45.93. Within the 1st hour of the fresh session, Litecoin posted an early morning intraday high point of $46.87. Against its first major resistance of $46.83, Litecoin’s price slid to $45.50. The reversal also ensured that the coin fell to its first major support of $46.05 and the second major support of $45.62. Finding support as the morning came to an end, Litecoin recovered to $46.5 before sliding into the deep red again. The price of Litecoin fell back to its first and second major supports. At press time, the Litecoin price was changing hands at $46.02. Litecoin fell to $45.84 today before rising back to $46.02.

Litecoin Price Prediction – Litecoin Reach $46.10 to Bring Back it’s First Major Resistance of $46.74

Litecoin price must move to $46.10 to support a fresh run at its first major resistance position at $46.74. It will need support from the wider market for the digital asset to break from its morning high of $46.03. In the absence of a fresh extended crypto rally, LTC’s first major resistance point and Tuesday high of $46.87 could limit the chances of an upside action. If the coin fails to move to $46.10, this could leave LTC price in the red zone for the 4th day consecutively. A fall to the levels under $46 would signal the return of the first major support of $45.26. In the absence of an extended sell-off, Litecoin could stay clear of its second major support of $44.58.

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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