Litecoin’s Struggle Continues; Reaches New Low below $57

Fibo Quantum

  • Litecoin falls below 57 USD over the last 24 hours.
  • The next major resistance may come at 60 USD.

Litecoin’s dismal performance in the past few days has been the talk of the town. A few months ago, LTC price used to mount as high as 100 USD but now it is struggling to keep its head above 56 USD.

Litecoin Price Analysis:

Litecoin (LTC) opened the day trading at 57.57 USD and the first swing of LTC to USD started at 02:08 UTC and within no time it fell to 56.71 USD after a 3.01% decrement.  It was followed by a hike of 0.95% that added 0.54 USD to the value and this swing pushed the value to 57.25 USD. The last swing happened over the next 4 hours and 38 minutes, and this swing took 0.62 USD from the value and made it roam around 56.60 USD.

Litecoin Price Chart
LTC Chart by TradingView

Litecoin’s last 50-days’ performance is worse than its last 20 days’. The current price trend is above its 50-day and 20-day MA. It hints at the upcoming strength of LTC in the upcoming few days. The next resistance is expected to fall at 58.88 USD.

Resistance and Support levels –

R1- $58.14, R2- $58.88, R3- $59.45

S1- $56.83, S2- $56.26, S3- $55.52