Litecoin (LTC) is currently under heavy downward pressure while trading below $ 57 marks. Recently, the value of money has declined and has stabilized below the $ 55 mark. However, the digital currency must remain above the $ 55 to avoid further drops to the support level at $ 52 and $ 50.
Litecoin (LTC) Price Today – LTC / USD
At the time of writing Litecoin (LTC) is changing hands at $ 55 after a decrease of about 3 percent in the last twenty-four hours. The current market capitalization of the digital currency is $ 3.21 billion and the volume of trade in the last twenty-four hours is $ 236.78 million.
Litecoin Watch (LTC) Price
There was a significant decline in the value of Litecoin (LTC) from the high of $ 60 swing. The digital currency continued its downward movement and it fell below the support at $ 57 and $ 55. From the chart, the value of the currency was rejected by the SMA at 100 hours and by the mark $ 57.
The value of LTC has even fallen below the level of support at $ 55 and fell to $ 52. At present, the digital currency is trading around the value of $ 54, but is still consolidating losses. A first stumbling block is the Fibonacci retracement level of 23.6 percent of the previous swing from a maximum of $ 58.90 to a minimum of $ 52.90.
C & # 39; is also a formation of a new bearish trend line with an obstacle to the sign of $ 56.5 on the 1 hour chart of the currency. The resistance of the trend line approaches the 50% Fibonacci retracement level of the previous swing from a maximum of $ 58.9 to a minimum of $ 52.9. Thus, if the digital currency continues to rise higher, it may be facing lower resistance at $ 56 and $ 56.5.
Beyond this level, the next hurdle of the digital currency is at the $ 58 mark, and the digital currency must break this level to pave the way for further gains to previous levels.