LTC/USD is rangebound amid lack of momentum. Positioning and speculative trading rule the market. Litecoin is changing hands at $80.92, unchanged on daily basis amid lack of momentum on global cryptocurrency market. Litecoin’s market value is registered at $4.6B with average trading volume at $413M. Litecoin shed about $1B of its value in just a week. Litecoin has recovered from Sunday’s low at $73.40, but it is still trading below $93.00, the line that served as a support for a long time, and now turned into a resistance level. The immediate support is created by 50-SMA at $80.00. Once it is broken, the sell-off may be extended towards $78.00 and further on to $74.00. On the upside, the recovery is capped by local resistance $82.25 (100-SMA), followed by $89.57 (200-SMA). Litecoin is moving in lockstep with other major coins, which means that speculative sentiments and short-term positioning define the short-term momentum of the coin. LTC/USD is down nearly 65% 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: Consumer confidence to remain unchanged – TDS FX Street 3 years LTC/USD is rangebound amid lack of momentum. Positioning and speculative trading rule the market. Litecoin is changing hands at $80.92, unchanged on daily basis amid lack of momentum on global cryptocurrency market. Litecoin's market value is registered at $4.6B with average trading volume at $413M. Litecoin shed about $1B of its value in just a week. Litecoin has recovered from Sunday's low at $73.40, but it is still trading below $93.00, the line that served as a support for a long time, and now turned into a resistance level. The immediate support is created by 50-SMA at $80.00. Once it… 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.
