Litecoin starts the day with a steady 0.7% increase despite being down by $0.01 on the 4-hour charts so let’s see the price action in the following Litecoin price news.
The $47 price level was the opening price on the four-hour candle for Litecoin which resulted in the previous 4 hours where the price moved down by 0.02% from the previous 4 hours. Relative to some of the other instruments in the top crypto asset class, Litecoin ranked 4th since the previously shared 4-hour charts in terms of percentage price change. Litecoin starts the day with a 0.7% increase which denotes the 2nd day in a row for an upward movement that occurred. As for how much volume is fared, the volume from yesterday was up by 20% from the previous day and up by 45% from Thursday of the week prior.
Out of the 5 instruments in the top crypto asset class, Litecoin ended up ranking 3rd for the day in terms of price change compared to the day before. Litecoin is now close to its 200-day averages and it is located at $49 which could be a key juncture along with these timeframes. The trend traders will want to observe that the strongest trend happening on the 14-day horizon while over the same time period, the price was moving up. For another interesting point, Litecoin’s price went up by 17 percent of the previous 30 trading days.
Just like with any bear market, we could see the LTC price rebound soon enough. The crypto investors were hoping an ETF could lure some more money into the market but the prices now have come back to Earth and we are getting a lot of questions about whether Litecoin is a good investment to make. A couple of days ago, Litecoin (LTC) was trading near $50 which is a major psychological level, following a drop which brought it back to where it is now.
As previously reported in the Litecoin price news, The bulls returned 5% gains for Litecoin as the price action led to a $46 price level and is even poised for more gains after moving out of the four-weeks downward movement. After establishing the weekly support of 0.00465 BTC, Litecoin saw a 2-day bounce to where it is now facing a minor resistance. Despite the potential struggles, LTC could remain bullish on the 4-hour chart with the current price of 0.004906 BTC.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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