The price of Litecoin (LTC) is currently negative after a significant amount of\u00a0liquidation. Monday\u2019s data from Coingecko indicates that the price of LTC has decreased by 1.4% over the past week and is currently trading at $49.98.<\/p>\n
LTC had previously achieved support at $49.68, but was unable to maintain the levels and experienced a price decline. The LTC\/USD pair is currently encountering resistance at $50.85; a move over this level would target $51.50.<\/p>\n
The one-day price chart for Litcoin indicates an upward trend that may persist for some time. However, it may not be steady enough to overcome the market\u2019s significant bearish pressure.<\/p>\n
Suggested Reading | Dogecoin (DOGE) Could Use Some Lift \u2013 An Elon Musk Tweet, Perhaps?<\/p>\n
Litecoin Facing Heavy Selling Pressure<\/p>\n
In the previous several days, the Litecoin market has been highly volatile, with values surging and then falling rapidly.<\/p>\n
After failing to maintain the $52 level and facing severe selling pressure, LTC prices began to retreat. The cryptocurrency\u2019s market capitalization is approximately $3.5 billion, and its 24-hour trading volume is $373 million.<\/p>\n
At $55.62, which is a resistance level, the LTC\/USD pair established a new all-time high on Friday. This level has been retraced, and the price is currently trading below $55.50. If the price continues to decline, immediate support may be found at $54.00.<\/p>\n\n
LTC ROI Down Over Past 12 Months<\/p>\n
Aside from its functionality, LTC is now of little benefit to investors because it does not generate a significant profit for its holders. The coin\u2019s return on investment over the past year has decreased dramatically, with most statistics falling into the red zone.<\/p>\n
Furthermore, of the millions of investors that buy LTC, only a few hundred thousand are still profitable. These investors purchased their supply at a price below the altcoin\u2019s current market value. These investors represent only 13% of all LTC holdings.<\/p>\n
Suggested Reading |\u00a0Cardano (ADA) Looks To Recover After Sliding To $0.43 \u2013 Pressure\u2019s On For The Bulls<\/p>\n
Even though bears are currently trying to sustain momentum, they have succeeded in driving the price of LTC below the $50 threshold.<\/p>\n
Meanwhile, given that Litecoin\u2019s market value is also at an all-time low, it is not unexpected that new investors are avoiding the asset. Despite this, LTC\u2019s existing community will continue to patronize LTC, giving the coin a good chance of mounting a recovery.<\/p>\n
Featured image from NDTV.com, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The price of Litecoin (LTC) is currently negative after a significant amount of\u00a0liquidation. Monday\u2019s data from Coingecko indicates that the price of LTC has decreased by 1.4% over the past week and is currently trading at $49.98.<\/p>\n
LTC had previously achieved support at $49.68, but was unable to maintain the levels and experienced a price decline. The LTC\/USD pair is currently encountering resistance at $50.85; a move over this level would target $51.50.<\/p>\n
The one-day price chart for Litcoin indicates an upward trend that may persist for some time. However, it may not be steady enough to overcome the market\u2019s significant bearish pressure.<\/p>\n
Suggested Reading | Dogecoin (DOGE) Could Use Some Lift \u2013 An Elon Musk Tweet, Perhaps?<\/p>\n
Litecoin Facing Heavy Selling Pressure<\/p>\n
In the previous several days, the Litecoin market has been highly volatile, with values surging and then falling rapidly.<\/p>\n
After failing to maintain the $52 level and facing severe selling pressure, LTC prices began to retreat. The cryptocurrency\u2019s market capitalization is approximately $3.5 billion, and its 24-hour trading volume is $373 million.<\/p>\n
At $55.62, which is a resistance level, the LTC\/USD pair established a new all-time high on Friday. This level has been retraced, and the price is currently trading below $55.50. If the price continues to decline, immediate support may be found at $54.00.<\/p>\n
LTC ROI Down Over Past 12 Months<\/p>\n
Aside from its functionality, LTC is now of little benefit to investors because it does not generate a significant profit for its holders. The coin\u2019s return on investment over the past year has decreased dramatically, with most statistics falling into the red zone.<\/p>\n
Furthermore, of the millions of investors that buy LTC, only a few hundred thousand are still profitable. These investors purchased their supply at a price below the altcoin\u2019s current market value. These investors represent only 13% of all LTC holdings.<\/p>\n
Suggested Reading |\u00a0Cardano (ADA) Looks To Recover After Sliding To $0.43 \u2013 Pressure\u2019s On For The Bulls<\/p>\n
Even though bears are currently trying to sustain momentum, they have succeeded in driving the price of LTC below the $50 threshold.<\/p>\n
Meanwhile, given that Litecoin\u2019s market value is also at an all-time low, it is not unexpected that new investors are avoiding the asset. Despite this, LTC\u2019s existing community will continue to patronize LTC, giving the coin a good chance of mounting a recovery.<\/p>\n
Featured image from NDTV.com, chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2635","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=2635"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2635\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2635"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}