[ad_1]
The seventh most powerful cryptocurrency in the world by market capitalization, Litecoin (LTC), has recently caused a stir and progress while the digital currency is finally starting to be at the height of its name. Currently, Litecoin seems to be completely enlightened.
This week, after Monday, Litecoin (LTC) prices have been in an uptrend (technically) rising from its low of 51.05 US dollars to a maximum of 58.77 US dollars. However, regardless of the good news, Litecoin (LTC) prices were thwarted and the prices of the digital currency fell to a low of $ 55.90. Since last week, the price of Litecoin (LTC) has been depreciated between the levels of 60 US dollars and 50 US dollars.
Today, Litecoin (LTC) prices continue to depreciate between these price levels until the digital currency is broken by price. At present, Litecoin (LTC) prices are currently recovering 57.16 US dollars per currency. However, both the signal line and the MACD line are below the zero line indicating an exchange / sales signal.
Subsequently, the price of Litecoin (LTC) is lower than the 12-day and 26-day EMA, indicating that we may be in the early stages of a bearish trend. The Relative Strength Index (RSI) for period 14 is in level 44 indicating that the price is in the lateral trend zone.
Litecoin (LTC) Price and price performance
At the time of writing, Litecoin's market capitalization amounted to 3.3 billion US dollars with a trade volume of 217.5 million US dollars in the last 24 hours.
When it comes to predicting the value of money, many cryptographers are of the opinion that Litecoin (LTC) will reach a price value of $ 600 or more before the end of this year. At present, when comparing virtual currencies in the market, you will see that Litecoin is doing a great job in maintaining a good position among the many digital currencies.
Many cryptocurrency funds and institutional investors are investing in the digital asset or planning to do so. This is the reason for the growing number of Litecoin (LTC) daily transactions. If you are looking to invest in Litecoin (LTC), now it may be the best time to trade the digital asset, as if you were in a good position to get attractive returns throughout the year, thanks to pricing of Litecoin for 2018. But as always, it would be prudent to diversify your virtual currency in order to significantly reduce risks.
Not long ago, virtual currency fell dramatically in value against the US dollar and found a new level of support close to US $ 49. Shortly thereafter, Litecoin (LTC) began an upward trend and corrected over 52 and 54 US dollars.
When you look at the Litecoin performance chart, you'll see the price of virtual token offers close to the US dollar sign at 50, a link support trendline. The price of Litecoin managed to maintain a brave battle that led to its higher price increase which broke the resistance level at 54 and 55 US dollars, respectively. The most recent price increase was positive as digital coin exchanges exceeded Fibo's 50% retracement level of the previous swing, which was a maximum of $ 60.6 at a minimum of $ 49. USA.
However, the value of the virtual asset price is currently limited at the top of the levels of $ 57 and $ 60. The Fibo retracement level of 61.8% and the value of 100 hours SMA of the previous swing of up to 60.6 US dollars and a minimum of 49 US dollars is close to the US dollar sign at 58.
Overall, there is another major obstacle that Litecoin will have to skip, close to the limit of 60 US dollars. If Litecoin is able to appreciate beyond the level of 58 US dollars, it will have to correct the level of 60 US dollars to correct further. Consequently, Litecoin must maintain its immediate support level of US $ 55 to avoid further declines.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pixabay.com
[ad_2]Source link
