Litecoin Price Analysis: LTC Trades Below $90; Trades Strongly in the Bearish Zone

Litecoin Foundation partnered with Bibox and Ternio where they agreed to launch a special edition of Litecoin block card. It is a major step forward regarding the initiative of ‘Pay with Litecoin.’ In this initiative, the foundation aims at using LTC chips to pay anywhere on the globe.

Current Statistics of Litecoin (LTC):

• On July 24, at UTC 11:51, Litecoin to USD is trading around 89.901 USD.
• Against Bitcoin, the crypto is valued at 0.00924979 BTC per chip.
• With an ROI of 1,988.86%, the current market rank of Litecoin (LTC) is 4^th.
• Additionally, the market cap of the coin is 5,640,615,606 USD.
• On top of that, the last 24-hour trading volume of the altcoin is 2,786,519,297 USD.
• Again, a total of 62,800,793 LTC chips were circulating in the market, at the time of writing.

LTC Price Comparison:

Let’s analyze the price of crypto over a period of 25-days.

On June 29, Litecoin (LTC) was valued around 116.307 USD. Nevertheless, at present, the coin is trading with a decline of 22.7%. However, in the last 7-days of trading, the coin has shown some bounce back and is trading with a hike of 1.81% when compared against the market price of 88.338 USD on July 18. Again in an intraday trading yesterday, the crypto has gone down by 5.01%. Litecoin (LTC) on the other day opened at 95.41 USD and wrapped the day at 90.62 USD, with an absolute dip of 4.78 USD.

Litecoin Price Prediction:

As per our Litecoin Price Prediction, the coin can dip down even further from the current trading price level. The crypto seems to be following the last week’s action, but this time the whole cryptocurrency space is facing a bearish trend. And that is adding some extra rough patch to the declining trend of LTC. As of now, the immediate support for the crypto is at 88.21 USD. Additionally, the resistance for the altcoin is at 94.25 USD.

Conclusion:

At present levels, the short term is definitely bearish. In the long-term, one should expect good returns. The announcement of the 2^nd annual meet will also benefit the price margin of Litecoin once the market correction occurs.