InvestorsObserver gives Litecoin a weak short-term technical score of 30 from its analysis. The proprietary scoring system considers the coin’s trading history over the past month to determine the strength of its short-term technicals. LTC has currently traded better than 30% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.
Trading Analysis
LTC is currently $16.74 (12.31%) above its 30-day low of $136.00 and -$141.82 (-48.15%) below its 30-day high of $294.56. Additionally, LTC is under its average price of $221.68 over the past month of trading with its current price of $152.74. Overall, the recent trading history of Litecoin suggest that traders are currently bearish on the coin.
LTC has a high market cap compared to the majority of coins with a total market value of $10,556,548,630.96. Litecoin’s market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and LTC meets that criteria. Litecoin’s average volume is high as $17,120,428,246.09 worth of the coin is typically traded over a 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. Over the past 24 hours LTC’s volume is below its average with $3,551,066,100.72 exchanged.
Litecoin’s subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.
Summary
Litecoin’s trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the coin in the near future.