Litecoin (LTC) seems to have reached the minimum lows against the US dollar, as the value of the currency has stabilized just above its resistance to the $ 54 mark. The 200 exponential moving average also serves as a support for the digital currency . The relative strength index has also reached a critical level as it has to break out next week, both downwards and upwards.
The Demarker indicator also shows that the value of the coin has touched the bottom of the weekly chart and the value of the currency could reverse at any time. The digital currency has been able to maintain its position to a certain extent in the recent turbulence in the cryptographic market, as it is now gradually recovering and consolidating higher.
The Future Prospect of Litecoin (LTC) looks brighter
Like some other currencies, the value of Litecoin (LTC) fell 85 percent from its all-time high. Nevertheless, the future prospect of the digital currency seems more brilliant based on developments and partnerships around it.
The founder of Litecoin (LTC) – Charlie Lee sold most of his coins to distance himself from the project. The digital currency has been seen as a digital silver in the digital currency space for quite some time. Litecoin (LTC) has attracted many investors due to its ability to be a significant deposit of value and a spendable token for the exchange of value.
Looking at the LTC / BTC chart, the digital currency has reached the lowest low of its uptrend channel against BTC. The digital currency is currently supported at the value of $ 54, and is currently accumulating enough bullish momentum for an aggressive upward break in the coming weeks.
Litecoin (LTC) Price today – LTC / USD
Litecoin (LTC) is currently changing hands to $ 55 after a decrease of around 0.2 percent over the past twenty-four hours. Litecoin (LTC) has a market capitalization of $ 3.17 billion and a trade volume of $ 241.98 million over the past twenty-four hours.