- On January 24 Litecoin was trading in green territory.
- The bears breached the $60 high and $55 low for LTC/USD.
- The next important support for LTC/USD stands at $50, $44 and $40.
Litecoin news today – Litecoin price has had an uneven last few days. The coin has managed to stage short recoveries. Although it still returns to bearish territory due to high volatility. The change in fortunes for BTC and ETH is the latest development at the start of trade. Long before things changed traders and experts had predicted that these two crypto’s especially Bitcoin has a bullish outlook for the medium term. The coin is predicted to drag the rest of the market in that bullish direction. Whether Litecoin would be a part of this current structure soon remains to be seen. However, the trading day Friday, January 24 saw LTC price trading in positive territory. The coin had posted a 1% gain at the start of the trade.
The Bears Have Breached the $60 and $55 Areas for the LTC/USD Pair
Looking closely at the chart for the LTC/USD pair, we can see that the bears have breached the high and low points achieved from the past week for Litecoin. The high was $60 and the low $55. The price of Litecoin was running in the red during two consecutive sessions over the last 24 hours. However, for the second part of this trade session, the price of the digital asset has managed to gather some upward momentum although very minor. This action led to a bounce in the price of Litecoin to the $51.00 mark during the red trading session in the last 24 hours.
Litecoin’s Next Support Areas Include $50, $44 and $40
The next important support for the LTC/USD pair after the last 24 hours of trade stands at the $50, $44 and $40 areas. The coin’s price action also extended to downside from a narrowing pattern (block formation). This invited more selling pressure for the digital asset. The structure for LTC/USD can also be regarded as having a bearish flag formation as well. However, there might still be some room for a retest of this structure in the long run. As of when this content was published the price of Litecoin was trading at $54.15. The coin also has a market cap of $3,462,075,070 and a 24-hour trade volume of $3,400,558,462 in the same period of time.
Litecoin (LTC) Price Today – LTC / USD
Litecoin’s circulating supply at press time stood at 63,932,224 LTC. The coin has posted a 3.62% gain in the last 24 hours.