Litecoin has been engulfed in the crypto market volatility since the beginning of the year. The past one month also has seen a lot of fluctuations with the price mostly being in the lower range due to the continual bearish pressure. The price was seen moving in the range between $29.60 – $63.35.
From the beginning of this month, Litecoin price trades with slow and steady upside momentum. Recently, it crossed the $42 price mark. As per the current price rally, the coin might breach its crucial resistance $45 in the upcoming days.
LTC/USD Price Chart
The currency has been continually fighting the intense bear pressure over the past one month. From a high of $63.35 on March 07, the price crashed to $29.60 by a massive fall of 53.45% on March 13. This did not deter the coin from going for recovery on March 20, when it rebounded with a bang to $42.18, showing an upward momentum of 42.85%. Later, there was downward price momentum marked for LTC on March 23, and the price fell to $36.33 by 14.12% drop. However, on March 27, the currency reflected a strong recovery to the extent of 12.14% and reached $40.74.
Further, Litecoin continued to trade with moderate momentum around $40 price mark. Today, the price has gone up to $42.24. This has given some hope to the LTC community. Analysts are banking on the ability of the currency to bounce back at regular intervals and expect it to surge ahead stably in the upcoming months. Day traders can make decent gains even under conditions of current crypto market volatility.