- LTC/USD was down by 3.82% at the end of yesterday’s session
- Litecoin can return to $42 with support from the rest of the market
- LTC left its major support and resistance untested earlier on
Litecoin news today – The digital asset market has had a year to remember this 2020. The pandemic has made it this way. Even though the price of Bitcoin has managed to rally upwards a few times, it has remained highly volatile. It hasn’t had much of an impact on the rest of the market. One of the tokens that are on focus over the last seven days is LTC. The price of Litecoin has been highly volatile in recent days. Particularly in the last seven days. June 20, report about new zero wallets joining the Blockchain network hasn’t had any direct impact on the fortunes of the digital asset. Let us see how Litecoin has performed in the last few days and today so far.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – Litecoin’s Price Began June 28 0.71% Higher
The price of Litecoin reportedly rose by 0.71% on June 28. With this move it partially reversed the 4.67% drop it posted on Saturday. The Litecoin price also ended the week trading down by 3.82% at $41.32. It began the day on a bearish note and fell to early morning intraday low of $40.40. Steering clear of its first major support area of $39.12, Litecoin’s price rallied to $43.04 which is an intraday high. It fell short of the initial major resistance at $43.01. After this Litecoin moved back to $41. At press time, Litecoin was trading flat at the $41.32 area. The day has been mixed after Litecoin fell to $41.15 a morning low. Eventually, it moved back to a high of $41.48. The digital asset must avoid falling to the $41.25 pivot area if it must reach its first major resistance at $42.11.
Litecoin Price Prediction – Litecoin Can Return to $42 With Support From the Rest of the Market
Litecoin will also need support from the rest of the digital asset market to force a move back to the $42 price position. In the absence of a fresh crypto rally, LTC/USD will have its first major resistance position, and Sunday’s high point of $42.04 cap any upside action. Failure to avoid a drop in the $41.25 pivot position could see the Litecoin price struggle in today’s session. A fall back to the levels below $41 would bring back LTC’s first major support of $40.47 into play. In the absence of an extended crypto sell-off, the price of Litecoin should avoid its second major support position at $39.61. According to the technical indicators, we can see that Litecoin’s major support and resistance at $40.47 and $42.11 respectively.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.