Litecoin Price Escalation Indicates Towards Early Arrival of Price Recovery

Fibo Quantum

  • Litecoin intraday price movement seems to impress the traders

The market has been moving at a moderate speed. The month started with a volatile phase and is now posing a consistent and stable movement. The momentum is positive in the coin along with Bitcoin, Ethereum, Ripple, Litecoin, etc. The indications are all pointing towards the prosperous future in the market.

Yesterday, the price was seen touching a high at $57.73 and a low at $55.88 marking a volume of $2,235,957,909. Now, let’s have a look at the price chart.

LTC to USD Price Analysis:

Litecoin started trading at $65 on September 01, 2019. The price moved from $65 to $71 by 9.49%. Later, the price moved down to $64 by 9.92%. There was another upsurge that took the price back to $72.46 by 12.73%. Further, the price moved up to $80.30 by 18.89%. The currency couldn’t hold itself to the level and fell to $51. The regression marked was of 36.91%. The month suffered from 1.39% loss as it closed at $57.83. The ongoing month continued the fall and brought the price to $53. The uptrend was also marked recently which took it to $59 by 11.76%. Whereas, currently Litecoin trades around $57.

Litecoin Chart By TradingView

Litecoin is one of the most promising coins of the market. If we compare the volume of yesterday which was at $2,235,957,909 with today’s which is at $2,303,301,403, there is substantial improvement noted in the currency.

The calculated resistance and support level for Litecoin is as follows:

Resistance Level Price Support Level Price
R1 $57.67 S1 $55.82
R2 $58.62 S2 $54.92
R3 $59.52 S3 $53.97

Litecoin is approaching to breach the immediate resistance level. It wouldn’t be a surprise if it breaks the next and major resistance level soon. And with this the intraday trading in Litecoin seems to be profitable.

For long-term traders, Litecoin is likely to give good result. The traders can dig-in with a high prospect of earning a huge outlay.