The Value of Litecoin (LTC) Is Gathering Momentum for a Massive Upside Break

The value of Litecoin (LTC) is still well supported over the $80 mark against the USD. The value of the digital currency is presently heading towards resistance at the $95 mark to open doors for more gains. The digital currency is still in the bullish zone, as it is now amassing momentum break above its key hurdle points.

Litecoin (LTC) Price Today – LTC / USD

Name Price24H (%)
Litecoin (LTC)
$58.86
5.34%

At the time of writing, Litecoin (LTC) is still holding its number 7th position on the list of top digital currencies in the world by market cap. The digital currency is now trading at $88 after an increase of more than 4 percent in the last twenty-four hours. The current market cap of the digital currency is $5.04 billion and its trading volume over the past twenty-four hours is $372.53 million.

Litecoin (LTC) Price Analysis

Yesterday, the digital currency tried to settle over the $85 mark against the USD. However, the digital currency failed to hold its gains and declined to the support line at $80. From the chart of the coin, the value of the coin declined to $80.87 before buyers showed up.

The value of the digital currency later bounced back and traded over the 50 percent Fibonacci retracement level of the previous swing from the high of $85 o the low of $80. The initial resistance of the coin was at the $85 mark, but the coin managed to gather momentum to break that resistance, and the coin is presently trading over the $85 mark.

The immediate resistance of the digital currency is at the $90 mark, while its major hurdle is lying at the $95 level. If the digital currency trades below its present level, it will likely find support at the $85 mark and another support at the $80 level.

On the upside, if it breaks its next resistance, it might open the door for more gains towards the $100 mark.


SEE ALSO:   Litecoin price today: Can Litecoin overtake Bitcoin? - Fri Aug 17

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.