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Bitcoin
- The LTC crypto is trading more than 80% below its all-time high price.
- The trading volume of Litecoin has declined by more than 25% in the last 24 hours.
Litcoin’s main aim is to provide fast and secure low-cost payments. It is based on the BTC protocol and differs in terms of hashing algorithms. It works on the PoW consensus mechanism and follows the SCRYPT hashing algorithm. It was created by a former Google engineer, Charlie Lee.
The market cap of Litecoin is 5.166 Billion USD and the fully diluted market cap is 5.871 Billion USD. The trading volume for the LTC coin in the last 24 hours is 241.858 Million. The all-time for the crypto is $412.96 USD and the max supply for the crypto is 84.0 Million.
The volume/market cap ratio of the LTC crypto is 5.09% as per CoinMarketCap and the market cap has declined by 0.09% in the last 24 hours. The market cap rank for the crypto is #18 and the market cap dominance is 0.347%. The crypto has advanced by +5,965% from its all-time low price.
TVL vs Price Comparison of Litecoin
The violet color line on the chart indicates the price. Further, the blue line of the chart indicates TVL. Thus, the price of the crypto is declining and against this, the TVL of the company is advancing.
Derivatives Data Analysis of Litecoin
The derivatives trading volume of the LTC crypto has not witnessed any significant change over a long period of time. It has witnessed a decline of 38.84 in the trading volume in the last 24 hours.
Moreover, the long liquidation of the crypto is very high resulting in $89.96K. It is followed by a long/short liquidation ratio of 0.9677.
LTC Crypto Technical Analysis
The LTC crypto formed a double-top pattern at the all-time high price of the crypto. It further started to decline and lost its value by more than 80%. Litecoin is currently trading at a level of $70.19.
LTC/USD Chart by TradingView
The EMAs are trading in a strong downtrend following a death cross of the 50-day and the 200-day EMAs. The price is currently trading at the band of the EMAs and is taking rejection at the same levels.
The ADX is trading at a level of 20.51 and has lost its value from the higher levels. It shows that the price is losing the strength of its existing trend.
Conclusion
Litecoin has a strong community and a history of innovation. The LTC coin has recently broken out of a bearish pattern and is showing signs of recovery. If it can break above the resistance of $77.00, it could trigger a bullish reversal and regain its lost value. It has the potential to outperform the market.
Technical Levels:
- Support levels: $47.00 and $60.00
- Resistance levels: $95.00 and $114.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
