$ 1,196.88 0.87%
$ 40.49 0.97%
$ 0.066477 0.63%
$ 4.39 2.38%
$ 21,139.00 0.64%
$ 234.38 1.93%

Litecoin price is still volatile: Where would it settle?

litecoin price in sway 22nd september 2019

This September proved to be pretty exciting for the altcoins, and Litecoin price is in a sway like most of them experienced a considerable price movement.

However, in the process, major resistances were breached. Ethereum is leading all the altcoins currently. Moreover, Litecoin is also showing positive growth.

On September 1, Litecoin was standing at sixty-four dollars ($64.01) mark; it then hiked up to almost eighty dollars ($79.80) on September 18 registering a little over twenty-four percent (24.66%) growth. At the time of writing, Litecoin valued at a little over seventy-two dollars ($72.11).

Litecoin price: Short-term movement

Short term Litecoin price chartLitecoin price chart by Trading View

Short term Litecoin price chart shows signs of a bullish trend. On September 18, the digital assets hiked up to a little over seventy-nine dollars ($79.08) which followed with a price correction.

In a twelve-hour window, LTC price reduced to a little over seventy-three dollars ($73.12), but then again gained momentum and pushed the price back over the resistance at a little over seventy-six dollars ($76.23).

Since September 19, prices have progressively dropped; however, this whole movement initiated a descending channel pattern.

This formation of channel indicated about another bullish trend, which could breach immediate resistance at a little over seventy-two dollars ($72.92), and retesting of the major resistance at a little over seventy-six dollars ($76.92) mark. The validity of the pattern was confirmed by this decreasing volume.

Litecoin price: Medium-term movement

Medium term Litecoin price chart

Litecoin price chart by Trading View

The short-term Litecoin price chart demonstrated the trend more clearly. Before the ongoing descending channel formation, LTC showed a similar pattern on September 9, and a bullish surge successfully broke it.

Prices hiked at about fifteen percent in that period, but the trading volume was low. At the time of writing, the present descending channel is backed by high volume that indicates the trader’s higher involvement in the market.

Lastly, LTC needs to undergo another bullish breakout and a re-test of resistance at a little over seventy-six dollars ($76.29) mark.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Polkadot price analysis: DOT price will break above the closest resistance level found at $ 9 over the weekend
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?
ISO 20022 compliant crypto-list

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users