- Litecoin faces the downtrend with its intraday trading
- The coin finds immediate support at $53.98
Litecoin is currently moving down with a moderate speed and the market trend is also indicating a similar move. If we look at the 15-day movement in the price, LTC is seen booking losses. The opening price of the ongoing month was $57.5 and the current trading price is $53.9.
As per yesterday’s price movement, Litecoin was seen touching a high at $57.37 and a low at $54.71 with a trading volume of $2,602,960,066.
Litecoin Price Analysis:
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LTC started the previous month with an escalation as the price moved from $85.20 to $71.24. Later, there was another progression of 14.15% that took the price to $72.93 from $63.90. Further, the price jumped to $80.45 from $67.24 by 19.64%. The price started falling after hitting $80.45 which took the price down to $50 by 35.16%. The month closed at $56 with a loss of 11.32%. The ongoing month has reflected an aggregate loss of 6.45% until now except the major escalation that took the price to $59 from $53.
The calculated support and resistance levels are as follows:
| Resistance Level | Price | Support Level | Price |
| R1 | $56.64 | S1 | $53.98 |
| R2 | $58.33 | S2 | $53.01 |
| R3 | $59.3 | S3 | $51.32 |
Litecoin has given flourishing result in the past. The first two quarters were quite amazing, but the previous quarter was very disappointing. The ongoing quarter has also brought a loss in the trading price until now. The escalation in Litecoin is long-awaited now.
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And when we look towards Litecoin Price Forecast data, it will be a humble request to the traders interested in this coin should recommend it for long-term investment to book a colossal profit.
