Litecoin has endured one of the most volatile periods in the crypto space in the last few days. The coin has been unstable having suffered five major price swings in the last 24 hours. The first of the five falls that happened accounted for about 4.61% in loses. This price action was then followed by an 8.02% price surge in the coming 1 hour 37 minutes.
It was this price increase that took LTC price to $136 before it fell by 8.58%. After this drop, it rose again by 6.05% before the final price drop that about 8.54% out of the value of LTC. Despite the issue of volatility, LTC’s medium-term prospects are still favorable. The coin’s medium-term outlook is bullish. It is possible that LTC price will get to around $200 by year-end.
Let’s see an analysis of the coin’s current details via the LTC/USD chart.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Stood at $124.98 at Press Time
According to the LTC/USD chart for trade from July one Litecoin is currently the 4th largest digital asset by market capitalization. The coin has an ROI of 2,800.07%. Market circulation for LTC is 62,464,876 LTC with a total market capitalization of $7,805,616,070. Litecoin price stood at $124.98 at press time according to coin market cap with a 24 hour trading volume of $5,738,119,114.
Comparing the Price of LTC From the Last 30 Days to July 1
Like all other altcoins, Litecoin price got its first price push for the year at the beginning of April. The LTC price gained 52.10% between April 1 and April 6 and traded at $91.81 from $60.26. This was followed by a 27.14% drop in value in the next 23 days where its price traded at $66.57. Again, another rise of 52.65% was seen between April 29 and May 15. Where LTC price traded at $101.61.
There was also another hike in price that accounted for no less than 33.54% taking the coin to $117.06 between May 22 and May 27. The next price increase of 34.97% was also observed between June 4 and June 14.
The most recent swing point for the coin was when it fell by 18.81% in a five day period from June 22. The market capitalization of the coin on June 1 was $6,982,765,320 and the price of LTC was $112.41. The current market capitalization of the coin and the price of the coin are 11.78% and 11.18% more than what was attained in the last month.
Medium-term Holders of LTC Must Wait Until Year End to Make Gains
Litecoin price is bullish for the medium-term outlook. The price of the coin will likely reach about $200 by the end of this year. The next resistance positions for the digital asset are $132.1933333, $142.1366667, and $148.0133333. While the next support positions for LTC will be at $116.3733333, $110.4966667, and $100.5533333. Litecoin price has shown significant potential to perform despite the issue of volatility. Hence, it is recommended that existing holders of the token wait for at least the end of this year if they want to realize maximum profits.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.