Litecoin price shows a ruffled price pattern for the last day of January 2020. After going against the idea from January 30, the trading pair travelled over the price chart for January 31 to meet another resting value near the $67.50 mark. According to the idea, the cryptocurrency was expected to meet its nearest support level, at $58.07.
1-Day Litecoin Price Analysis (January 31)
Litecoin LTC stood at $67.94 US Dollars at 00:00 GMT, and the cryptocurrency shows an irregular price trend until 03:47 GMT. The trading pair fell to $66.16 US Dollars by 07:33 GMT, following a price bounce at 06:34 GMT. At 08:15 GMT, the trading pair saw bulls that led the price line across the $69.50 mark by 09:18 GMT. The cryptocurrency scored a day’s high of $69.72 US Dollars by 19:21 GMT.
The cryptocurrency has a day’s trading range of $65.35 — $69.89. The price line faced a drastic fall to a day’s low of $65.55 US Dollars by 13:17 GMT. A brief retracement caused the price to return towards the current trading price of $67.50 US Dollars.
Technical Indicators for Litecoin
The Relative Strength Index (RSI) crept past level 70 at 09:20 GMT, to reach 87.33 on its scale for January 31. The technical indicator currently lies at 55.39. The 20-Day Exponential Moving Average (EMA) closed at $67.35, whereas the 50-Day Moving Average (MA) stands at $67.24 just as these lines are being written.
While it is ranked as the 7th, according to coinmarketcap.com, Litecoin has a current market capitalization of $4,334,184,140 US Dollars.
Featured Image by Wesley Tingey.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.