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Litecoin price analysis: LTC price on $82 bearish consolidation

litecoin price analysis 10th august

Litecoin (LTC) is decentralized and that’s what makes it the people’s choice. Litecoin price analysis, therefore, requires a little extra attention since it literally hit the moon recently.

Litecoin is the pinnacle of privacy when it comes to that. The cryptocurrency has seen some highs and lows since its inception in 2011.

7-day Litecoin price analysis

Litecoin (LTC) currently has a market cap at five billion dollars ($5,602,665,425). Its current circulating supply in the market is sixty-three million (63,005,331) LTC.

The lows were at it again with LTC and it had been trading at eighty-six ($86) dollars at 10:36 UTC. It was speculated that LTC will recover ii no time.

Litecoin price analysis: LTC price on $82 bearish consolidation 1Litecoin price chart by Trading View

The week for Litecoin went in a consolidatory manner before it escalated down the staircase in one big swoop- from ninety-four dollars ($94.3) to eighty-six dollars ($86.0).

At the start of the week, the coin had been trading at ninety-four dollars ($94.3) and nothing much changed it the end of the day except the 0.1 dollar increment that left it on the $94.4 dollar mark.

The second day went the same for the cryptocurrency. The price went from USD 94.4 to USD 94.5. A steady increase as it had been.

The third day had some action in it when LTC has a change of price. The price went up by one ($1.5) dollar, from ninety-four dollars ($94.5) to ninety-six dollars ($96).

Then kicked in the recession. On the fourth day, the daily standings went down from ninety-six dollars ($96) to ninety-two dollars ($92) by a three percent (3.26%) decrease.

The trend continued on day 5 when LTC went down a further two percent (2.74%), landing at the ninety dollars ($90) mark.

Day 6 seemed like the coin was going back to the old pattern when the price changed from $90.3 to $90.4, by the end of the day until today- it escalated from ninety dollars ($90) to eighty-six dollars ($86).

The altcoin has much room to grow and for good reasons, it stays in the top ten (10) cryptocurrencies’ list.

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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