LTC/USD is still in the range despite recent sell-off. Positioning and speculative trading may be behind the downside movement. Litecoin is changing hands at $94.00, down nearly 4% on daily basis amid global cryptocurrency sell-off. Litecoin’s market value is registered at $5.4B with average trading volume at $312M. Despite a noticeable drop, LTC/USD continues moving within the short-term horisontal channel with the support at $93.00. The price is likely to recover from this area as new buyers will join the game and stop the downside. However, once it is broken, the selling pressure may intensify and take the coin all the way down to psychological $90.0 and $88.69, which is the lowest point reached on June 13. Litecoin is moving in lockstep with other major coins, and while the fundamental reasons of the recent sell-off are not readily available, speculative sentiments and short-term positioning ahead of the weekend may partially explain the downside. LTC/USD is down nearly 60% since the start of the year, but it is still 120% higher on year-on-year basis. LTC/USD, the hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next US: How much further can expectations rise? – Westpac FX Street 3 years LTC/USD is still in the range despite recent sell-off. Positioning and speculative trading may be behind the downside movement. Litecoin is changing hands at $94.00, down nearly 4% on daily basis amid global cryptocurrency sell-off. Litecoin's market value is registered at $5.4B with average trading volume at $312M. Despite a noticeable drop, LTC/USD continues moving within the short-term horisontal channel with the support at $93.00. The price is likely to recover from this area as new buyers will join the game and stop the downside. However, once it is broken, the selling pressure may intensify and take the coin… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
