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Litecoin Price Analysis: $90 Remains The Immediate Milestone Irrespective Of Price Correction

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Nordstrom Rack, a fashion retailer, based in the United States, accepts Litecoin as payment. Interestingly, Nordstrom and has both online and offline stores. So Litecoin holders got a new way to spend their chips. And this will help the foundation in extending its market grip too.

Current Statistics of Litecoin:

  • Litecoin (LTC) vs. US dollar is trading at 87.111 USD.
  • Against Bitcoin, the crypto is valued around 0.0076588BTC per chip.
  • With a return on investment of 1,925.74%, the market rank of Litecoin is 5th in the crypto market at present.
  • Additionally, the market capitalization of the digital coin is 5,489,267,952 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 2,854,377,506 USD.
  • Again, the total LTC chips circulating in the market, at the time of writing, was 63,020,293 LTC.

LTC to USD Price Comparison:

Litecoin Price Prediction
Litecoin Price Chart

On July 18, Litecoin (LTC) was trading at 101.633 USD. However, today after 25-days, the altcoin has shown a substantial decline by 14.28%. Similarly, in a week of trading, Litecoin has gone down by 10.94% from the level of 97.853 USD on August 06. Nevertheless, the coin has shown a bit of strengthening in yesterday’s trading where it opened at 85.45 USD and closed the intraday trading at 89.75 USD with a slight bounce-back of 5.03%.

Litecoin Price Prediction:

When compared to other altcoins, the bounce-back in Litecoin is relatively lower, but it has a lot of potentials. Litecoin has been in top 5 cryptocurrencies for a long time. And this can only be achieved by crypto with strong fundamentals. As per our prediction, Litecoin might trade around 150 USD to 200 USD by the end of the year. For now, the immediate support is at 86.46 USD. Additionally, the resistance for the altcoin is at 92.037 USD.

Conclusion:

Nordstrom Rack is one of the popular retailers in the fashion industry which sells branded clothes at discounted prices. In that case, the new payment option of LTC at the store will surely result in increased trading volume of the crypto.

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Litecoin

Litecoin Price Analysis: LTC Maintains at $76; the Next Target is Likely to be $81

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  • Litecoin hovers at 76 USD for the second day.
  • The next resistance point for the coin may come at 81 USD.

Litecoin, as a Top-5 coin in the market, has a huge user base and it gets decent attention for this. For the past few days, the coin was negatively focussed as it was under pressure. But the day before yesterday Litecoin managed to get over the 75 USD mark. In the last 24 hours, the coin could not advance further, but it maintained well its value near 76 USD. We will be analyzing the four major price swing of Litecoin in the last 1 day. Let us see the current statistics first.

Litecoin Price Statistics-

  • Litecoin is on 5th position in the market and the ROI (Return on Investment) of the coin currently is 1,687.11%.
  • A total of 63,072,181 LTC coins are in current circulation.
  • The market cap of Litecoin as on 20th August at 03:15 UTC stands at 4,842,401,376 USD.
  • The value of Litecoin stands at 76.69 USD and 0.00706377 BTC.
  • The 24h volume of the coin stands at 2,322,489,366 USD.

LTC to USD Price Comparison-

Litecoin price chart August 20
Litecoin Price Chart by TradingView

Litecoin started yesterday near 76 USD and with a small hike of 1.59%, which took the coin to 77.02 USD by 02:11 UTC. The second swing came as a huge price gain for Litecoin as it was pushed from 76 USD to 78.72 USD over 2 hours from 06:01 UTC. In the next 4 hours, the coin managed to maintain its value near 78 USD. But between 11:51 UTC and 20:51 UTC, the coin fell by 3.96% and reached 75.56 USD. However, towards the closing of the day, the coin grew by 2.22% and reached 77.22 USD by 23:11 UTC. Over the last few hours, the coin has been maintaining its value near 76 USD.

Litecoin Price Prediction-

Litecoin is likely to grow exponentially soon. The next target for the coin should be 81.18 USD and after that may find it smoother to get hikes. The medium-term of the coin seems bullish. The next probable resistance and support levels are listed below.

Litecoin (LTC) 
1st Resistance78.55333333 USD
2nd Resistance79.84666667 USD
3rd Resistance81.18333333 USD
1st Support Level75.92333333 USD
2nd Support Level74.58666667 USD
3rd Support Level73.29333333 USD
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Litecoin (LTC/USD) forecast and analysis on August 20, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 76.23. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.

Litecoin (LTC/USD) forecast and analysis on August 20, 2019

As part of the Litecoin exchange rate forecast, a test of the level of 78.20 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 66.20. The conservative sales area for Litecoin is located near the upper border of the Bollinger Bands indicator strip at 80.00.

Litecoin (LTC/USD) forecast and analysis on August 20, 2019

Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closing of quotations of the pair above the area of ​​82.40. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on August 20, 2019 implies a test level of 78.20. Further, it is expected to continue falling to the area below the level of 66.20. The conservative area for selling Litecoin is located area of 80.00. Canceling the option of falling cryptocurrency will be a breakdown of the level of 82.40. In this case, we can expect continuation growth

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Litecoin: The pair might be setting up for a move higher

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  • Nice trendline break yesterday could indicate a further move higher
  • Intraday 76.00 could provide support – before LTC/USD breaks higher
  • Both the MACD and Stochastics have moved into positive territory
LTC USD 4 hour

Litcoin is not one of the best performing cryptocurrencies today but there has been a bullish trendline break that we need to take notice of. The trendline on the chart broke yesterday taking out the 77.00 wave high in the process. Today the price is still in the consolidation area but at slightly higher levels. 

The area we need to watch is 78.13, which LTC/USD did breach for a short period of time. Recent price action has taken LTC/USD back down below that level but we need to watch for a break and close above as this would mean a continuation of the lower high lower low trend pattern on the 4- hour chart. If we are to see a push to higher levels, something we may see is a retest of a trendline or a previous consolidation high for support. 

On the 4-hour chart, the stochastic indicator is in an overbought zone and could dip lower to give the price some room to breathe before another move up. The MACD histogram is also positive as the two moving averages diverge but interestingly both the moving averages have not crossed the mid-line to the upside so we cannot confirm a full change of trend yet. 

On the zoomed in 1-hour chart below, you can see the resistance level hold. On the one hour chart, the 76.00 level could be seen as a good support point for support before we get a move higher. On the other hand, if it does break and hold below, this could be bearish and prices might retest the lows again. For now, the base case scenario is a break of 78.50 back to the upside so we can get another test of 80.00. 

LTC USD 1 hour chart

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