Litecoin is Almost Trading Flat, However, The Long Term is Bullish- An Analysis

 Litecoin is Almost Trading Flat, However, The Long Term is Bullish- An Analysis

Meta Data: The growth in Litecoin has stopped today has movement has almost gone flat. As of now, the trends are bullish.

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On June 27, Litecoin was trading around 118.591 USD. Nevertheless, today after 25-days, the coin has gone down by a huge margin of 18.73%. But in a week of trading, the altcoin has shown strengthening of 8.4% from the market price of 88.884 USD on July 16. A similar trend can be observed in yesterday’s trading where Litecoin opened at 100.51 USD, and with a slight decline of 0.87%, it closed around 99.63 USD.

According to our analysis, the long-term for the crypto is exceptional and it might trade around 200 USD by the end of 2019. The immediate support for the crypto is at 95.23 USD. Additionally, the resistance for the altcoin is at 101.75 USD.

The high momentum in Litecoin has faded in the last two days and the coin has manifested relatively flat trading. At the current scenario, it is better to wait and watch for the next couple of days before making any investment in Litecoin. However, the long-term trend is still bullish.

Harold Sanders

Harold Sanders is a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Harold's passion for Litecoin bloomed in late 2016 and he hasn't looked back since. Cryptonews technological and economic implications are what interest him most.

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