Litecoin News Today – Litecoin LTC Has Surged by 4.47% in the Last 24-hours as Altcoins Take the Lead – July 9th, 2020 

  • LTC/USD rallied by 4.47% in the last 24-hours
  • The digital asset has reversed the 1.54% drop from a day earlier
  • Litecoin needs broader market support to break Wednesday’s high of $45.63

Litecoin news today – The price of Litecoin rallied by 4.47% in the last 24-hours of trade starting from Wednesday, July 8. By doing this the digital asset managed to reverse a 1.54% decline from Tuesday. At the time (July 7) Litecoin ended the trading session at the $45.33 area. A mixed start trade the day after saw the price of Litecoin drop to a morning intraday low position of $43.11 before it made a move. The coin was able to steer clear of its first major support position of $42.65 before rallying to a late intraday high point of $45.63. Let us see more on how LTC/USD moved during the last few days and past 24-hours.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$60.43

Litecoin News Today – Litecoin Broke its First and Second Major Resistance at $44.27 & $45.18

The price of Litecoin managed to break its first major resistance position of $44.27 and its second major resistance area of $45.18. LTC’s second major resistance region of $45.18 eventually delivered support for the digital asset later in the day. As of when this content was written, Litecoin was trading down by nearly 0.93% at $44.91. The coin also had bearish start to trading today which saw its price fall from a morning high of $45.42 to a morning low of $44.75. The Litecoin left its major support and resistances untested in the early hours of the day. The price of the digital asset would need to avoid dropping to the $44.69 pivot position if it wants to successfully initiate a run at $46.27. $46.27 is Litecoin’s first major resistance area.

Litecoin Price Prediction – LTC Needs Broader Market Support to Break $45.63

The Litecoin price will need support from the broader cryptocurrency market, to successfully break out from $45.63. This price position was Wednesday’s peak point after a short rally. Barring a fresh crypto rally, Litecoin’s first major resistance position would probably cap any upside action. If the coin fails to avoid dropping to the $44.69 pivot area, it would bring its initial major support position of $43.75 into play. In the absence of an extended crypto sell-off, the price of Litecoin should steer clear of the levels below $43. The second major support level for LTC/USD currently sits at $42.17. Looking at Litecoin’s technical indicators, the coin found major support at $43.75 and major resistance at $46.27. Litecoin’s outlook is bullish in the short-term.

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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