Litecoin Price Analysis: LTC Reflects Stable Upward Momentum

Litecoin has always maintained the required buzz in the market. In the previous year, the currency reflected an amazing upsurge in the price. In the first and second quarters, LTC was spotted marking amazing escalation and thus was registered among few coins that outperformed Bitcoin. This year, within 45 days, i.e., February 15, the currency reshuffled the 90-days high and set a new at $86, and if we compared it with last year’s digits on February 15, 2019, then the coin was exactly at the half, i.e., $42.

The ongoing month brought massive fluctuation. The major reason behind the same is the global crisis. Today, the coin has reflected massive improvement. The price was spotted around $40. However, recently, the correction in the market seems to be hampered as the coin has registered a plunge. The same is likely to be short-lived, and the price would pick up again in the upcoming hours.

LTC/USD Price Chart:

Yesterday, Litecoin was spotted dealing at $34.64 in the first hour. The price escalated to $36.48 within the next 30 mins. Later, with a slight plunge at $35.63, the escalation continued to $37.37. The currency slipped to $35.55, but further at 13:00 UTC, the currency jumped to $40.06 by 12.74% hike. LTC couldn’t keep the escalation intact, and in the next 40 mins, the price was at $37.92. Then, it hovered around the same level till 18:00 UTC. The closing hours brought the required push, and the day ended at $39.30.

Today, Litecoin started the day with a slight plunge to $38.47. Later, the coin escalated to $40.45. Recently, there is a slight plunge spotted in the coin that has brought the price to $39.40.

A few hours ago, LTC price was dealing above the immediate resistance level, which was around $40. But now, the coin has dropped the immediate resistance level at $39.94. If the market pressure increases, then the immediate support level is formed at $36.51.