Latest Litecoin price and analysis (LTC to USD)

Litecoin has formed another devestating lower high as it begins to enter a prolonged downtrend following the astonishing 75% correction to the downside last month

Litecoin remains in a bearish posture from a macro perspective following yet another gruelling lower high following last month’s 75% correction.

Litecoin is now the 12th largest cryptocurrency with a market cap of $11.2 billion. It has now formed three consecutive lower highs at $206, $195 and $180, indicating that investors are losing interest in the asset.

Trade volume has also dropped off significantly, with it recording just $2 billion of the past 24-hours compared to last month when it regularly topped $10 billion.

Whilst the Litecoin chart remains bearish on all time frames, it may be helped by a potential recovery in the price of Bitcoin, which has been given a lift by its recent adoption as a currency by El Salvador.

LTCUSD chart by TradingView

This, coupled with MicroStrategy’s insistence on raising more capital to acquire more Bitcoin, demonstrates that the recent bull market is still showing signs of adoption on a national scale.

For Litecoin, however, the lack of retail interest paints a damming picture for the cryptocurrency that launched in 2013. Downside levels of support remain at $147, $118 and $91, whilst resistance to the upside is standing firm at $180 and $206.

For more news, guides and cryptocurrency analysis, click here.

About Litecoin

Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It is a fork of Bitcoin, with the main difference being a smaller block generation time. The protocol also increased the maximum number of coins and implemented a different script-based algorithm.

Litecoin is one of the leading cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.

More LTC news and information

If you want to find out more information about LTC or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Latest Ethereum price and analysis (ETH to USD)

Next Article

UEFA partners with AntChain to bring Blockchain to Euro 2020

Read More Related articles