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Litecoin {LTC} price analysis; Summit turns out to be a “great success”

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Litecoin is positioned at #6 to the south of Tether and Bitcoin Cash in the market. The trading volume recorded stands at roughly $3.218 billion, whereas the supply has 63,576,892 LTC coins in play as of this very moment. The total market cap of Litecoin amounts to $3.734 billion for now. The price sunk slightly, at a rate of 1.15% in the course of the past 24-hours; this, in turn, led to LTC shrinking all the way to $58.74 where it presently rests.

According to the candlestick chart linked to the LTC/USD pair on tradingview [based on the data obtained from the Bitfinex Exchange], we can notice that Litecoin is being impacted by sellers. The final peak tied to the Awesome Oscillator bears the brown shade, which indicates that bearish momentum might continue to influence the performance of “Silver 2.0” unless buyers step in and propel the coin forward.

From 30th October, the MACD line began inching close to the signal line, causing the emerald histogram to appear faded. This signifies that bears are gradually increasing their level of activity. A mark of resistance was established at $64.090 during the previous week, and support lies near $47.209 for now which might be broken if bigger losses occur.

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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.