Will Litecoin (LTC) Continue To Find Favor In The Sight Of The Bulls In The Market?

The close of Litecoin (LTC) this week will probably set the trend for the next significant move in the values of the coin – as indicated by the technical charts of the coin. Last week, the values of the digital currency were highly unstable, and the digital currency tested the lows of $72 and the highs of $84, before ending the week with a trading value of $80.

As a result of this, the digital currency is still under the mercy of last week’s price action. This means that a convincing bullish run –preferably over the high of last week – could result to a significant price rally and lure bargain hunters.

On the other hand, if the digital currency trades below its last week’s low, then a lot of investors will possibly liquidate their holding, and this will result in another round of massive selloff.

Litecoin Price Today: Current Price of LTC

Litecoin is still holding the number 6 spot on the list of top digital currencies in the market based on market cap. Over the past twenty-four hours, the digital currency saw an increase of 10 percent in its value, and it is now trading at $88. The digital currency has a market cap of $5.05 billion and a trading volume of $345.75 million over the past twenty-four hours.

Litecoin (LTC) Weekly Chart

Last week, the digital currency created a doji candle at the major support level of $79. Doji candles usually represent indecision, nevertheless, the doji could be seen as a representative of bearish exhaustion when compared to the decline of the selloff from its all-time high of $369.

If the digital currency closes over its current value this week, it would indicate a bearish-to-bullish trend change. If this happens, the digital currency could surge to the $100 mark or beyond in the coming weeks.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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