Litecoin’s Dramatic Movement Keeps the Bearish Trend Alive

Litecoin (LTC) holds a popular place when it comes to cryptocurrency. The coin is said to replace Bitcoin in the future. However, the currency movement in LTC is quite disappointing. Today, the currency started with a heavy price fall. The dramatic phase in the next hours kept the traders longing for an upsurge.

The improvement in the currency has recently embarked. However, the same is likely to be short-lived. The chances of loss are relatively more than profit during the closing.

Litecoin Price Analysis

Litecoin price was trading at $75 during the opening time of yesterday. The price escalated to $75.88 by 1.20% in the next 30 minutes. The price plunged to $75, but the coin again surged, and this time the price was trading at $77.70. The price dribbled to $76 but soon recovered to $79.35. Later, the currency slipped again to $78.45. At 10:32 UTC, Litecoin escalated to $79.81. The price was $78 at 12:00 UTC. In the next three hours, the coin climbed to $80.03 and then, it dribbled to $78.52. The currency locked itself at the same level till 21:01 UTC. During the closing hour, Litecoin price escalated to $80.01, and the intraday movement in the coin brought 6.72% progression.

Today, Litecoin began the day with a fall, and the price counters changed from $80.01 to $75.90. The currency hanged around $76.5 for a while, and then, it dribbled to $75.07. The coin improved to $76.55 by 1.96%. LTC price dropped to $75.35 by 1.58%. The currency price escalated to $77.40 by 2.72% at 12:00 UTC. Presently, Litecoin is trading at $77.40. The coin is quite near to the immediate support level at $76.41. The currency is likely to breach the same anytime soon.