Latest Litecoin price and analysis (LTC to USD)

Litecoin is currently trading at $172 following a 11.36% recovery over the course of Sunday’s trading session.

The world’s eighth largest cryptocurrency by market cap is now reinstating its bullish posture ahead of a potential move towards the $182 level of resistance.

The recovery was spurred by a bounce in the price of Bitcoin, which has risen from Sunday’s low of $43,000 to as high as $48,500 over the course of 24-hours.

Despite the wider digital asset market seemingly being on the brink of a correction over the weekend, it now seems to have dusted off those fears following a woeful final week in February.

LTCUSD chart by TradingView

Litecoin continues to trade considerably below its yearly high of $247 and dramatically below its all-time high of $420, however a macro recovery from this region will likely trigger a bullish month of march for all cryptocurrencies.

However, if Litecoin it rejected from the $182 level of resistance it would form yet another lower high, indicating a significant lack of momentum.

Downside levels of support remain at $154 and $137, with much deeper targets coming in at around $120 and $100.

About Litecoin

Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It is a fork of Bitcoin, with the main difference being a smaller block generation time. The protocol also increased the maximum number of coins and implemented a different script-based algorithm.

Litecoin is one of the leading cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.

More LTC news and information

If you want to find out more information about LTC or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:

https://coinrivet.com/litecoin-becomes-official-cryptocurrency-of-the-miami-dolphins/

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.

Source: coinrivet.com