Press "Enter" to skip to content

Litecoin {LTC} price analysis 2019; the digital currency hasn’t stopped consolidating

Latest News

Litecoin is ranked at #6 in the market, ahead of EOS. The trading volume recorded stands at approximately $3.513 billion, while the supply has 63,590,767 LTC coins in play as part of circulation. The total market cap of Litecoin is $3.728 billion. The price increased at a rate of 0.37% in the course of the past 24-hours; this, in turn, helped $LTC climb a bit and reach the $58.63 mark where it currently rests.

In accordance with the candlestick chart linked to the LTC/USD pair on tradingview [based on data drawn from the Bitfinex Exchange], buyers and sellers are currently facing off and the winning group will determine whether $LTC surges or falls. The daily RSI [for 14 periods] has remained more-or-less constant since the 30th of October and presently sits at 52.77. From 31st October onwards, the peaks tied to the Awesome Oscillator [established above the zero line] all possessed the brown shade, which signifies that bearish pressure may severely affect Litecoin’s performance during the first week of November.

Initial support can be found adjacent to $54.448, and resistance can be felt if $LTC has the potential to recover and head towards $64.

Do you believe Litecoin can bounce back above $70 by the time 2019 draws to a close? It was regarded as a highly profitable asset during the first half this year [alongside Binance Coin, an exchange-based asset which has also been through quite a bit of a rough patch].

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.