- Litecoin LTC price is now trading in positive territory by 0.40%
- The LTC/USD pair is subject to deeper falling
- Litecoin LTC’s price action has been narrowing ahead of a possible breakout
Litecoin news today – The digital asset market as a whole has had a rollercoaster year. The cryptocurrency space has experienced price drops and bull runs. The major factor that has impacted this year’s market is the ongoing coronavirus pandemic. Recall that Litecoin was on the negative side after enjoying a short period of bull action following Bitcoin’s sudden resurrection that took it above the $7k mark. Now, a look at the daily chart for the LTC/USD pair shows that the digital asset is now in a positive area. Let’s see how the coin performed over the last 24-hours
Litecoin Price Prediction – Litecoin LTC Price is Now Trading in Positive Territory After Gaining 0.40%
As stated above, after spending only a few days in bear territory, over the last 24-hours it seems the Litecoin price managed to stage a recovery. LTC managed a minor bull action. The coin is now trading in the bull territory having gained 0.40% through the session from April 12-13. Despite this positive news for the digital asset, there may be some concerns for LTC. Experts have predicted that there are still a few vulnerabilities for the price of Litecoin They have proposed that the current struct shows that LTC may still head towards the downside. This is the case when you consider the bearish flag breach that is growing (via the daily chart of the LTC/USD trading pair). Whether the analysts are correct remains to be seen but as is always the case LTC’s fundamentals can change at any given time based on several factors. The best thing for investors to do is to watch and see.
Litecoin (LTC) Price Today – LTC / USD
Litecoin LTC Price Analysis – The Litecoin LTC/USD pair is subject to deeper falling
The failure of the LTC/USD trading pair to regain its previous status from the start of the year has cost the coin. This can also be said for the rest of the market. The LTC/USD pair is still subject to a deeper fall following because there was a rejection at the $50 mark. The next major support area on target is the $40 position. Litecoin’s price action has been narrowing in recent trading, ahead of a likely incoming price breakout. The pair may expect it’s near-term price action to enter into a bearish flag structure. This is the outlook determined after look at the 60-minute chart for Litecoin. So it’s either it maintains the minor gains or LTC falls into the bearish flag structure and keeps dropping. The price of Litecoin is trading at $41.47 with a 24-hour trade volume of $2,847,332,140 at press time.
