Litecoin price has shown three huge ups and downs over the last 24 hours. However, the coin managed to sustain its price level over this period despite the heavy fluctuations. The LTC price dropped by 0.57% only in this period. It is currently trading above $57. And as per the current movement, breaching a $58 target seems possible anytime soon.
Yesterday, Litecoin opened the day at $57.54, and over the next 13 hours, its value reached the lowest point of the day at $55.76. This 3.09% drop was followed by a hike in the value to the extent of 4.20%. This variation pushed LTC price to touch $58.10 by 16:03 UTC. Litecoin, however, couldn’t maintain its price around $58 for long, and in the next 9 hours, the price got contracted by 1.41% to be placed at $57.28.
LTC Price Prediction
On January 20, the market cap was 3.655 billion USD, and it has been increased to 3.670 billion USD over the last day. Litecoin’s current price at $57.21 is trending above its 50 days MA ($57.16). However, the 20 days MA ($57.23) has managed a lead over the current price.
As per Trade99’s analysts, Litecoin’s immediate future seems bullish, and it may soon breach the next resistance point at $58.11. However, it may not wholly avoid intraday price volatility.