- The Litecoin LTC Token Has Been Hovering Above the $48 Level for Days
- The Resistance at $49 is Strong and a Surge Above this Level is Essential if it is to Break the Bearish Pressure
Litecoin Price Prediction 2020 – Litecoin LTC has been struggling against the USD for a while. The bearish pressure was intense but the LTC token managed to glide through the consolidation phase without losing the support at $47. Still, the token is simply struggling to move above the resistance at $49 which is currently the strongest near-term resistance. The next key resistance after $48 is at $51 and moving above this resistance is crucial to the bullish pressure of LTC.
Litecoin LTC Price Prediction – Litecoin LTC Continues To Shed Recent Gains
At the time of writing, the price of the Litecoin LTC token was $48.37. This means that it is up by 0.08% against the USD and up by 0.20% against Bitcoin BTC. The trading volume over a 24 hour period was $1,714,968,812 and the market capitalization was $3,167,886,047. The Litecoin LTC token can’t seem to catch a break above the $48. It has hovered around this level consistently for days. Because the Litecoin LTC token was trading above the $60 level a few months ago, it’s sad that it can’t move above the $50 level simply because of resistance at $49.
If we didn’t know better, we would say that the Litecoin LTC token was a stablecoin that is pegged to the USD at $48. The token is currently trading like a stablecoin that moves up and down but hardly ever below its pegged level. The token might take another dip before the weekend ends. This dip will be supported at $47, a level that has acted as support for the past few weeks. If the Litecoin LTC token breaks the support at $47, another support at $46 will hold the line preventing lower lows.
Litecoin LTC, like many other altcoins, fell when the Bitcoin BTC token fell significantly against the USD. However, Bitcoin’s recovery above the $11k level has not been beneficial to Litecoin. At the time of writing, the price of Bitcoin BTC was $10,978.70. It is up by 0.23% against the USD with a trading volume of $24,513,972,068 and a market capitalization of $203,167,108,372. Bitcoin moved above the $11k level yesterday but this rise was short-lived and the token is now trending lower against the USD.
Litecoin (LTC) Price Today – LTC / USD
The technical indicators for Litecoin LTC show that the altcoin has gone through a bearish crossover with the MACD moving toward the signal line and the relative strength index moving from the oversold region to the neutral zone. Rise above the $49 level is crucial if the token is to enter the bullish territory soon.