- Litecoin moves in sync with Bitcoin and other altcoins.
- The short-term momentum is vague because of the Christmas holidays.
Litecoin is changing hands at $ 31.17, mostly unchanged on a daily basis, but down 2.8% from this Sunday hour. The eighth largest cryptocurrency moves within a range, just like most other digital resources. Low trading activity is typical of the holiday season when many traders are far from their trading branches.
Litecoin's year under review
LTC / USD reached its all-time high at $ 375.54 in December 2017. Since then, the currency has lost almost 92% of its value. The currency touched the lowest level in December ($ 22.37) and had ten "red" months out of twelve. February and April were the only "green" months this year.
All in all, Litecoin is moving at a fast pace with Bitcoin, with short periods of divergent momentum caused by LTC-specific news. The Litecoin Foundation attaches great importance to the mass adoption of coins as a means of payment for daily needs.
Technical framework of Litecoin
At the intraday level, LTC / USD is limited by SMA50, 4 hours to $ 31.67. Once it is broken, the price can proceed to an important technical obstacle at $ 33.00, created by the upper line of a triangle formation. A higher sustainable movement is needed to ensure a recovery towards $ 40.00
On the flip side, support is $ 30.00 psychological, strengthened by SMA100 (4 hours). Meanwhile, SMA200 has created an even stronger support and the lower line of the aforementioned triangle at $ 29.30. A lower sustainable movement will pave the way towards $ 25.00.
LTC / USD, 4 hours