Litecoin Price Analysis Reveals That A Fall Below $70 May Happen Before Another Bull Run

Litecoin, just like most altcoins, has been struggling to gain ground against the USD. Even if the Litecoin price prediction 2019 is bullish, the cryptocurrency seems to have hit a roadblock after months of surging higher against the USD. A few days ago, the price of Litecoin moved higher against the USD but was unable to move above the $80 resistance. This led to new declines and now there is a risk of the price of Litecoin falling below $70 before the bulls can gather momentum. In our Litecoin news today, we are going to consider the Litecoin price analysis on Ethereum World News and see how it affects our Litecoin price prediction 2019.

Litecoin Price Prediction 2019 – Litecoin Price Analysis – Litecoin News Today – LTC/USD

Bitcoin gained significantly over the last week. The price of the flagship cryptocurrency moved near the $6000 level on CoinMarketCap and broke this level on some exchanges like Bitfinex. Surprisingly, altcoins recorded little to no gains against the USD. Bitcoin outperformed them and its dominance in the market hit a seven-month high. About a month ago, the altcoin market was outperforming Bitcoin. Traders expected that this would be followed by a more intense altcoin season. However, the tides have changed in favor of Bitcoin.

It was after the price of Litecoin moved as high as $81.50 that the sellers showed up and started putting pressure on the market. The price of Litecoin LTC broke the supports at $78, $76 and $72 before the bulls managed to gather momentum to retrieve the support at $72. Now, there is resistance at $74.80 and $75.40. This was below the 100 simple moving average and there is a high chance that the declines will continue below the $70 level all the way to $65. Right now, the $65 level is acting as support against the USD. There is also another support at $60.

Litecoin Price Prediction 2019 – Litecoin Price Analysis – Litecoin Current Price – LTC/USD

At the time of writing, the price of Litecoin was $72.96 USD. This means that it is down by 4.81% against the USD and down by 3.19% against the price of BTC. The trading volume over a 24 hour period is $2,611,233,188 and the market capitalization is $4,497,870,967. It is important that the price of Litecoin stays above the support at $72.50 if it is to retest the $75 level again and gain more against the USD.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$61.03-1.30%

There is another strong bearish resistance at $77.60. If the price of Litecoin is able to break the resistance at $74.80 and $77.60, it would retest the $80 level again. Falling below the support at $72.50, on the other hand, will lead to more losses against the USD near-term. Even if the price of Litecoin falls below the $70 level, the buyers are expected to show up around $68 and $65 to save the day. The next few trading sessions will determine if the price of Litecoin will recover or fall lower against the USD.

What do you think about the Litecoin price prediction 2019 in our Litecoin news today? Will the price of Litecoin move higher or lower against the USD. Kindly share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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