Litecoin price in the last 24-hours is turning downside-ish a bit for a start of the week on Monday, as it hovers around $53. A possible break above certain resistance could take place near-term for LTC against the USD.
Litecoin Creating Ground for Gain – LTC/USD
LTC price[1] has taking the lower turn today [Oct 2nd] and dropped to $53.84 (time of the writing) as it meets supports at around $53.00 like the days before. This is caused by the resistance that is waiting at the $55.00 mark which for now is the major psychological barrier and so it causes a range bound effect.
Source: Coinmarketcap[2]
If we look at the longer-term, the moment the pair LTC/USD closed above the $55.00 mark was just before going for the $100 mark when it did hit its all time high value. So in the ‘bigger picture’ despite today’s drop, the price is creating a stable trading ground just below the resistance level so in the case of a break out it could go over the $60.00 or even higher.
Short/Mid-term sellers could be waiting at that point which will be tanking the value to take another testRead more ... source: TheBitcoinNews [3]Advertise on the Bitcoin News[4]
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