Meta Data: The short term in Litecoin is bearish. But, one should expect a good return in the long run.
The halving of the Litecoin chips is just a week away and or all LTC enthusiast out there, it is the right time for bespeaking a seat at the Litecoin Summit extravaganza in Las Vegas. As after the halving, the prices of the tickets will increase to the next level of availability.
Current Statistics (On July 30, at UTC 10:23):
- The price of Litecoin (LTC) against USD was around $89.226.
- Against Bitcoin, the crypto was valued at 0.00939087 BTC per chip.
- With an ROI of 1,986.27%, the current market rank of Litecoin (LTC) is 4th in the crypto chart.
- Additionally, the market cap of the coin was 5,641,345,089 USD.
- On top of that, the last 24-hour trading volume of the altcoin is 2,393,792,679 USD.
- Again, a total of 62,886,968 LTC chips were circulating in the market, at the time of writing.
On July 05, Litecoin (LTC) was trading at 119.421 USD. However, over a period of 25-days, the crypto has declined by a substantial margin and today is trading with a dip of 25.28%. Similarly, in a week of trading, the crypto has shown a decline of 0.96% from the level of $90.375 on July 24. The flat action of Litecoin continued yesterday as well where it opened at 89.77 USD and with a marginal hike of 0.73%, wrapped the day around 90.43 USD.
The crypto is moving toward the $90 mark at a stable pace and is expected to surpass the mark by the end of the day. Once the market correction occurs, Litecoin will make investors an ample amount of profit as we saw in the earlier bull run. As per our analysis, the coin will trade around $150 by the end of 2019. For now, the immediate support for the crypto is at 89.04 USD. Additionally, the resistance for the altcoin is at 91.86 USD.
Litecoin is following a similar trend like the earlier bull run that occurred two weeks back. In the earlier run, the digital coin made a sudden bounce back of more than 16% in just a few hours of trading. However, the altcoin is expected to be trading flat for a couple of days more. Which ultimately points out at a bearish short term.