- Litecoin LTC price rose by 3% since the last 24-hours of trade
- Litecoin LTC is currently changing hands at the $43.47 area at press time
- Litecoin LTC price could drop beneath the $42 area in the short-term
Litecoin news today – Litecoin is currently the number seven largest cryptocurrency by market cap. The coin has a total market cap of $2.8 billion and a 24-hour trade volume of $4.6 billion as of when this content was published. It is safe to say that the digital asset is still on the rise since yesterday’s bullish market. Recall that we reported that Litecoin and the rest of the market have started an upward swing after Facebook announced that it’s Libra project will move forward as a pared-down version in a bid to please regulators and lawmakers. At the time of that Litecoin price gained 6%. Today, it has already added another 3% ontop it’s previous gains as the bull remains in control.
Litecoin Price Prediction 2020 – Litecoin Price Traded Between $42.08 and $43.99 on the Day
Looking at the daily chart of the LTC/USD pair we can agree that Litecoin is still controlled by the bulls. The coin has remained in the range of $42.08 and $43.99 on the day. As of when this was published the LTC/USD trading pair was moving close to the $43.78 mark. It even traded nearly 3.8% above its previous price close from 48 hours ago. The bulls seem to be enjoying their time now as things continue to look good for digital assets. There is evidence to suggest that the LTC/USD pair is copying the price action of the leading digital asset Bitcoin.
Litecoin (LTC) Price Today – LTC / USD
Meanwhile, from BTC’s movement, we can also conclude that it is replicating the movement of the equity markets. Besides Facebook’s announcement about Libra, reports that world governments are beginning to reduce initial restrictions and reopen trading and other business activities have helped shape the current situation of the market.
Litecoin Price Prediction – LTC/USD Trading Pair Could Drop Under the $42 Area in the Short-term Outlook
Looking at the 4-hour chart highlighting trade for the LTC/USD pair, we can see that there is a large green candle that has formed over the last sessions. The associated volume is also on the high side. However, if we look closely at the hourly chart for the trading pair, we will spot signs that the descent has just started. This reveals the possibility that the coin could drop again and fall well below its current point. The price of LTC could fall beneath the $42 area in the short-term outlook. Currently, the pair is in a horizontal phase. Trading in a flat market may not bring any reliable profits to Litecoin traders.