Litecoin (LTC) is one of the most promising digital currencies in the market, and it has stood out from the crowd in several ways. The coin has been able to secure some vital partnerships and developments that helped to bring it this far. Nevertheless, the value of the coin has been facing a lot of hurdles due to the bears in the market.
Over the past few weeks, the bears have been very strong in the market and have succeeded in bringing down the values of almost all top digital currencies in the market, including Bitcoin (BTC), Ethereum, and Ripple (XRP). However, over the past couple of day, the market has been showing some signs of recovery and Litecoin (LTC) is not left behind.
Litecoin Price Today: Current Price of LTC
At the time of writing, Litecoin (LTC) is trading at $81.90 after a decrease of 1 percent over the past twenty-four hours and an increase of about 4 percent over the past seven days. The digital currency has a market cap of $4.77 billion and a trading volume of $234.88 million over the past twenty-four hours.
Litecoin (LTC) Price Analysis
The quotes of the digital currency are traded over the 55-Day simple moving average, and this signals the existence of a bullish trend for LTC. As a result of this, a test of the $83 level is expected, and this could lead to a potential growth of the digital currency to the $95 mark.
The conservative buying territory for the digital currency is situated close to the lower border of the Bollinger Bands indicator strip at $81.5. If the digital currency fails to rise over its present value, it will result in a breakdown of the lower bound of the Bollinger Bands indicators and decline to the $78 level..
On the other hand, if the coin breaks its current resistance at the $85 mark, then it could surge higher to face its next resistance at the $95.2 mark, possibly testing the $100 mark.