Litecoin Price Analysis: LTC Regains $40 Mark After Recent Plunge

 Litecoin Price Analysis: LTC Regains $40 Mark After Recent Plunge

Litecoin has been shining brightly for a few weeks due to its stellar performance. The past one week has seen the hefty volatility in the price movement of LTC under the continual bearish pressure. The coin has been fluctuating in the range between $41 – $47 over the past seven days.

LTC/USD Price Chart

Litecoin (LTC) Price News

LTC has been able to manage its price in the upward range over the past week, even under the strong bearish sentiment. The coin was trading at $44.39 on April 08. Over the next 24 hours, the price managed to reflect a strong recovery to the extent of 5.23% and reached $46.67. However, the continual bear pressure took the price of Litecoin being pushed down to $41.39 on April 10, showing a fall of 11.28%. On the next day, the currency went up to $42.93 by 3.84% hike.

With the bear pressure continuing, the price once again went down to $41.90 on the same day, showing a downward correction of 2.55%. From this low, Litecoin managed to move up again and touched $43.51 by 3.84% hike, but towards the closing hours, bears took control over LTC. Today, the coin faced a sharp decline, and its price reached $40.23 by registering a 7.58% fall. Day traders and short-term investors can make use of this dip and make decent gains even though there is a strong bearish undercurrent in the crypto market.

Hyun Hill

Hyun Hill is a cryptocurrency technical analyst with over eight years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. He has managed numerous litecoin-related projects and is passionate about all things blockchain.

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