The Litecoin worth has been beneath strain and the every day chart factors to additional weak spot. The LTC is buying and selling at $130, which is about 68% beneath the very best level this yr. This has seen its market capitalization drop to greater than $8.7 billion making it the thirteenth largest cryptocurrency on the planet.
Litecoin is a comparatively outdated cryptocurrency mission that was constructed to be an alternative choice to Bitcoin. The coin works in a comparatively related approach to Bitcoin however it’s comparatively cheaper to make use of. It’s also extra environment friendly for the reason that community doesn’t have substantial congestion.
Litecoin is often seen as a viable different to Bitcoin within the funding group due to its comparatively cheaper worth. For one, with simply $1,000, you should buy a number of Litecoins. With the identical quantity, you’ll be able to solely purchase a fractional a part of Bitcoin. Subsequently, just lately, the Litecoin worth has struggled as traders stay involved about rates of interest and rules.
Litecoin worth prediction
The every day chart reveals that the LTC worth has been in a deep downward pattern. Certainly, it dropped to the bottom degree since December 24 this week. A better look reveals that the coin is buying and selling considerably beneath the 200-day and 50-day exponential shifting averages. The 2 averages are additionally about to have a crossover that’s also called a demise cross. Usually, that is often an indication that bears are in management.
Subsequently, for my part, we are able to’t rule out additional declines within the close to time period. Deeper declines shall be validated if the worth manages to maneuver beneath this week’s low of $105. The bearish view shall be invalidated if the worth strikes above $150.
LTC worth chart
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