Litecoin (LTC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Digital Money has gained 1.46% to $59.98.
Moderately Volatile
InvestorsObserver gives Litecoin a moderate volatility rank of 26, placing it in the bottom 26% of cryptos on the market.
The Volatility Gauge follows which means that one day won’t define its volatility rank – a trend will.
LTC’s moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Litecoin price is in a good position going forward. With support near $56.15 and resistance around $64.58. This leaves Litecoin with room to run before facing selling pressures.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter