Litecoin (LTC) Correcting Towards $64 after Surging Towards the $68 Mark

The value of Litecoin (LTC) recently gained momentum and surged over the $65 resistance mark against the U.S. dollar. The digital currency even corrected higher towards the $68 mark but was capped on the upside. The digital currency is presently correcting lower, but it is strongly supported close to the $63 mark.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$128.81

At the time of writing, Litecoin (LTC) is trading at $64.69 after a decrease of about two percent over the past twenty-four hours. The current market cap of Litecoin (LTC) is $3.77 billion and its trading volume over the past twenty-four hours is $277.52 million.

Litecoin (LTC) Price Analysis and Trend

Recently, there was a decent upward movement from the swing low of $60 in the value of LTC against the U.S dollar. The digital currency surged higher and broke over the $65 and $66 hurdle points. From the chart of the coin, Litecoin (LTC) broke over the $67 mark and formed a high at the $67.71 mark.

Later on, the digital currency started a downward movement, and it’s presently trading below the $65 mark. There was also a break beneath the 23.6 percent Fibonacci retracement level of the previous swing from the low of $58.66 to the high of $67.71.

The value of the coin is slightly below the $65 mark, but it has a lot of support on the downside close to the $64 and $63 marks. Also, there is a formation of a key bullish trend with support at the $63 mark on the one-hour chart of the coin.

This trendline is in line with the 50 percent Fibonacci retracement level of the previous swing from the low of $58.66 to the high of $67.71. Finally, the 100-hourly SMA is also positioned close to the $63 mark. Hence, if the digital currency corrects lower, it will be supported at the $63.5 and $63 marks.

On the upside, if the digital currency surges over the $65 mark, it could test and surge over the $67 and $68 marks.

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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