Litecoin (LTC) Consolidating Higher, Aiming To Test New Weekly High

The value of Litecoin (LTC) declined recently, but further losses were prevented close to the $64.5 mark. The value of the coin remained decently supported over the $64.5 mark against the U.S dollar. At the moment, the digital currency is looking to extend its gains over its previous high of $67.5 in the short-term.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$0.00

Litecoin (LTC) – the seventh largest digital currency in the world by market cap – is currently worth $67.40 after amassing gains of more than 3.5 percent over the past twenty-four hours. The current market cap of the digital currency is $3.92 billion and its trading volume over the past twenty-four hours is $261.55 million.

Litecoin (LTC) Price Watch and Analysis

Recently, there was a minor downward movement in the value of Litecoin (LTC) beneath the $66 mark against the U.S dollar. The digital currency declined below the $65 mark and found support close to the $64.5 level. The digital currency later corrected higher and broke over the hurdle at the $65 and $66 levels.

The digital currency traded as high as $67.30 and corrected lower again. It even broke the 23.6 percent Fibonacci retracement level of the previous swing from the low of $64.17 to the high of $67.30. Nevertheless, further losses were prevented by at the $65.7 mark which acted as a support.

The 50 percent Fibonacci retracement level of the previous swing from the low of $64.17 to the high of $67.30 also acted as a support. If the value of the digital currency declines further, it could find support at the $65 mark. Also, the recently highlighted crucial bullish trendline is intact with support at the $64.80 mark. This trendline is in line with the 100-hourly SMA at the $64.30 mark.

Litecoin (LTC) is currently in a correction phase, and once this phase is complete, the value of the coin could surge over the $68 mark, attempt to surpass the $70 mark, and test new monthly highs.

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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