- Buyers are now in control of Litecoin market
- The digital asset has suddenly turned bullish on the day
- The digital asset may be heading towards $55
Litecoin news today – LTC/USD is the digital asset that has caught our attention by surprise in the past 24-hours of trade. It is barely a few days ago that the coin was bearish, but today buyers are back in control and the bullish are on the driving seat. The coin had an inbound confluence of technical indicators that were expected to resist its price from moving higher. But Litecoin beat these technicals and gained momentum which it upwards. The top ten digital currency has now established some level of support above the critical $44.5 area. It is now showing signs of moving higher towards the $50 in the near-term outlook. Let’s see more about how Litecoin performed.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – Buyers are in Control of Litecoin’s Market
The buyers are now in control of Litecoin as the market sentiment has returned to a bullish position. Litecoin managed to gain 3% in the last 24-hours of trade. The coin has also recorded higher figures when it comes to market cap and trading volume. The values of both parameters currently stand at $2.91 billion and $2.86 billion respectively. Even though sellers have launched several attacks on the market to gain complete control, the struggle will be invalid as long the LTC/USD trading pair stays within the $44.5 area. Below this price level, the bears might be able to record lesser price points at $42 once more. However, if the bulls can prolong their control, it will be more likely that we see a move to the $50 area for Litecoin in the coming sessions. Beyond this price areas, the coin may start heading to $55.
Litecoin Price Prediction – Litecoin is Set to Test a Key Zone if it Breaches $55
The price of Litecoin is set to test a key area. An analysis was done based on tracking LTC’s chances of approaching the $70- $80 price range. Here is how it panned out. In the past sessions, the LTC/USD pair traded at these all-time peak positions back in November 2018. Looking at the long-term chances of LTC reaching these points again, you’ll see that the odds support the coin testing bear market lows instead. However, for the short-term outlook, the current uptrend could continue. If this continues and Litecoin crosses $55, the next target area ahead will $95. However, it will be evident that $72 will act as a key support position. In any case, it appears that this situation may or may not remain constant for an extended period. All in all, if traders continue stacking up orders, things could become very interesting.