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Litecoin LTC price recovering towards $75

Litecoin LTC price recovering towards

Litecoin LTC price charts are a telltale of the overall market movement on Monday. Where the Bitcoin price movement failed to show any promising movements, major altcoins including Ethereum, XRP and Litecoin LTC are recovering from the bad fall on Sunday.

In the past 24 hours the Litecoin LTC price saw a high point of $74 however,  it was unable to sustain the daily high point and fell down to $71 range.

Earlier today, LTC price saw the lowest point of the day at $68.89, while the cryptocurrency hovered below the $72 mark for the most part of the day.

Litecoin LTC price chart 1 - 17 Feb 2020Litecoin LTC price chart by Trading View

On the 7-day charts, the highest peak point LTC has witnessed was at the $84.38 mark on the 13th of February and saw another high of $83.94 on the 15th of February. Litecoin price fell with the overall downward trend in the market to the lowest mark of $67.91 on the 16th of February.

Litecoin LTC price movement: What to expect?

In a similar fashion as the other major altcoins Litecoin is also showing a rounding bottom at the time of writing, however, the RSI standing at the 55.09 mark shows a better position for LTC than Ethereum and Ripple XRP.

Litecoin LTC price chart 2 - 17 Feb 2020

Litecoin LTC price chart by Trading View

At the time of writing, the major support for LTC is found at the $66 mark whereas the bullish trend is facing strong resistance from the bearish trend that took shape at $70 mark. The 20-day exponential moving average (EMA) is found at $72.5 right below the current trading rate.

Litecoin LTC price is expected to hover between the $66 and $83 range for a few days, whereas, if the bulls succeed in holding the crypto down a further crash can happen. On the other hand, if the crypto manages to break past the strong resistance point at $80.2731 a further break out towards $85 range is possible.

Featured Image by Jirkaejc

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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