Litecoin price dipped to the lows of $53.70 but regained control and climbed a little by a little up. However, LTC/USD has lost its footing and now is returning to its very long running range area.
Litecoin Price Against the US Dollar – Critical to take Momentum Now!
Litecoin after reaching its all-time high back in Sep 2 and crashing to the lows of $30.00 did enter a range bounding zone for more than a month with no interest of trading whatsoever [between $57.00 and $45.00]. On Oct 12 a game changer came to place as the value broke above and bulls hoisted it up.
On Oct 18, the pair LTC/USD moved downward to $53.00 but with no major change as the buyers created support so the chart would not return to its ‘bordering development’. However, this did not change today’s outcome as the most important mark now has been cleared [$57.00] and LTC price is trading at $56.90. Its critical for the value to take control and recover above the $57.00 so it would not continue downward and enter the range again.
Litecoin is on the negative -2.74% in the last 24-hours while being ahead of the Bitcoin market for 0.57%. On a 7 day-period LTC price has experienced the second highest drop with 13.67% following ripple which ‘deep dived’ for 21.04% in the last week.