Litecoin (LTC) Strongly Holds the $59 Support Level As It Waits For More Bullish Pressure


Litecoin (LTC) greatly benefited from the last bull run, as the bulls managed to pull the value of the coin over the $60 mark. The month of September wasn’t a bad one for the digital currency as it was able to achieve another significant milestone – Litecoin Summit 2018.

The Litecoin Summit 2018 which held which took place in the South San Francisco Conference Center on the 14th and 15th of September was indeed a success and a great achievement for the blockchain project.

The price performance of the digital currency recently hasn’t been what the community expects, but the digital currency has been doing its best to hold gains and prevent losses. The value of Litecoin (LTC) is currently supported at the $59 level, and it needs more bullish pressure to break over the $62 hurdle point.

Litecoin (LTC) Price Today – LTC / USD


At the time of writing, Litecoin (LTC) is changing hands at $61 after an increase of less than one percent over the past twenty-four hours. LTC currently has a market cap of $3.57 billion and its trading volume over the past twenty-four hours is $479.49 million.

LTC Price Analysis

Recently, the value of Litecoin (LTC) surged over the $65 level against the U.S dollar. Nevertheless, it later began a downward trend and declined below the $64 and $62 support levels. The coin even tested the $60 mark and formed a low close to the $58 mark before it started correcting higher.

From the chart of LTC/USD, the value of the digital currency broke over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $65 to the low of $58.85. The digital currency is now trading over the $60 level and the 100-hourly simple moving average.

Litecoin (LTC) is currently supported at the $59 level, and the next major support after that level is $57. On the other hand, the digital currency is currently capped on the upside at the $62 level, and a break over this level is needed for more gains towards the $65 mark.

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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