Litecoin Price Analysis: LTC Initiated Price Recovery After Recent Fall

 Litecoin Price Analysis: LTC Initiated Price Recovery After Recent Fall

Litecoin (LTC) has seen a lot of substantial price fluctuations since the start of the year. The currency has been trying to get out of the bearish grip at regular intervals. If we look at the last week’s price movements, LTC faced huge volatility. It was trading in the wide range of $35 to $40 in the said timeframe.

After hitting $38 mark on March 25, the Litecoin price marked steady upside momentum till the next 2 days, but on March 28, it faced steep fall, and the price fell to $37. After hitting this low, the currency has initiated recovery and breached its key resistance $39 on March 29. From this high, it continued to trade under the bearish influence.

LTC/USD Price Chart

Litecoin (LTC) Price News

Litecoin has been trying to keep its price above strong support $37 for the last few days. Yesterday, the currency started dealing at $39.12 in the first hour, but the bears exerted pressure and took the price down to $38.02 by 2.78% fall at 08:21 UTC. After this downside momentum, the coin continued to trade moderately.

At 16:20 UTC, the price of LTC recovered slightly and touched $38.60, but later, it marked a sharp downside move, and the price fell to $37.20 at 20:23 UTC, the downslide being at 3.56%. The currency continued to show its grit when it again managed a moderate hike, and the price touched $37.47 at 23:15 UTC. After reflecting slight recovery, Litecoin price continued to trade upwards, and today, it has reached a high of $38.17.

LTC has managed to stay above $37 price mark even under continual bearish undercurrent. As per the current price movement, Litecoin might regain its price level above key resistance $40 in the upcoming days.

Morgan Harris

Morgan Harris got into Litecoin back in 2014, but his interest quickly expanded to everything Litecoin-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years on blockchain-centered projects and hasn't looked back ever since.

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