The cryptographic market is stuck in a bearish channel and shows no signs of recovery. Panicked traders are selling off their scrambles. The massive selloff has canceled over $ 64 billion from the overall market capitalization. Many analysts and crypto-elites are of the opinion that the bear rally will not last long and the market will soon reverse its current trend. litecoin [LTC] prices have found support at $ 0.32 today and appear to be struggling with the seller's pressure to get a bullish trend.
LTC / USD
LTC prices that found support at $ 32.931 yesterday reached $ 36.7 before going down to trading around $ 32 today. The currency seems to have stabilized at $ 32 as it has found support again at $ 32.725 today. The currency is currently facing resistance at $ 35.097 and has entered consolidation. The MACD indicates that the currency is trading well below the uptrend line. The 100 EMA line at $ 37.88 represents a downward trend. LTC is currently trading at $ 33.79 and is dropping against USD 3.22%.
LTC / BTC
The digital currency is losing against BTC at the rate of 0.97%. At the time of printing, an LTC is equal to 0.00739453 BTC.
Latest Litecoin updates
The main stock exchange in Switzerland kicked off the world's first traded product (ETP) in order to monitor various cryptocurrencies. According to a report by the Financial Times, SIX Swiss Exchange based in Zurich will begin trading Amun Crypto ETP from next week. The ETP is designed to track an index based on the movements of five major cryptocurrencies, including Bitcoin [BTC], Ethereum [ETH], XRP, Bitcoin Cash [BCH] and Litecoin [LTC]. The ETP activities are divided between XRP (25.4%), ethereum (16.7%), bitcoin liquidity (5.2%) Litecoin (3%) and the rest will be assigned to Bitcoin.
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