Litecoin Bleeds Out After Attempting To Cross The Resistance At $120.00, Strong Support At $100 Is Holding Steady, Will Litecoin Recover?

Litecoin News Today – Yesterday, altcoins where trending higher against the USD and Bitcoin in altcoin season. The price of Litecoin surged against the USD as well and it was one of the highest gainers during the altcoins bull run. In our previous Litecoin news, we noted that the main reason why the price of Litecoin has been bullish for a while is the upcoming Litecoin halving. This event, which is scheduled to take place in August, is going to reduce the block reward for miners. Anticipation surrounding the Litecoin halving even is what has contributed to a surge in price. It has made the Litecoin prediction 2019 bullish. However, as expected, the recent altcoin bull run was followed by a price dip. Litecoin has been bleeding out since the price correction started.

Litecoin Prediction 2019: Litecoin News Today – Litecoin Price Forecast – Litecoin Bleeds Out After Days Of Bullish Pressure

According to the Litecoin price analysis on Ethereum World News, the price of Litecoin is currently declining along with Bitcoin, Ethereum, XRP and virtually every other cryptocurrency on CoinMarketCap. The price of Litecoin attempted to surge above the $120 level twice, managed to cross it but failed to hold it and dropped below the support at $115. The price of Litecoin closed below the 100 simple moving average breaking the bullish trendline which was at the $115 level. At one point, the price of Litecoin risked falling below the $100 losing the support at $108 and $101.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$73.47-2.43%

Will Litecoin recover? In our previous Litecoin price analysis, we noted that the price of Litecoin reached a cryptocurrency winter low of $23 last year and started surging upward shortly after that. Since then, the digital silver has increased by more than 418% against the USD. So, the fact that the Litecoin bull run is currently facing an obstacle doesn’t mean it is over. History has shown that bearish corrections usually come before bullish bursts. So, there is a strong chance that Litecoin will recover ahead of the Litecoin halving event.

Litecoin Prediction 2019 – Litecoin Price Prediction 2019 – Current Price Of Litecoin – When Will Litecoin Recover?

At the time of writing, the price of Litecoin was $110.05. This means that it is down by 5.94% against the USD and down by 2.34% against the price of BTC. The trading volume over a 24 hour period is $5,456,029,790 and the market capitalization is $6,825,014,011. Almost every top cryptocurrency is currently bleeding out against the USD. However, there is still a high chance that Litecoin will recover significantly before the upcoming Litecoin halving event and the price of Litecoin will keep going higher after that. So, this isn’t a good time to sell your holdings.

What do you think about the Litecoin prediction 2019 in our Litecoin news today? Share your thoughts in the comment section below.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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