Litecoin price movement has been under the influence of the bears. Today’s astounding jump has helped the LTC price reflected high recovery anticipations. The future expectation from the currency is likely to bring great results in the future. The interested traders can pick long-term investments to earn a colossal profit.
LTC/USD Price Chart
In the last few days, the currency was trading under bearish hold. At the beginning of this month, LTC’s price was around $60, and currently, it is trading around $40. However, the coin reflects stability even in the strong selling pressure. Yesterday, Litecoin started dealing at $39.48 and continued to trade around the same level for almost 5 hours, which was later followed by a slight plunge to $38.57. After this fall, the currency tried to recover, and the price touched $39.75 at 11:50 UTC. However, the price again dropped to $38.74.
Thereafter, the escalation in the coin took place that brought the Litecoin price to $40.58 by 5.10% hike. The day-long movement in the coin brought a 3.95% progression. Today, LTC began with a spike at $41.47 but later dropped to $40.08. All this happened within the first two hours of the day. Later, the coin escalated to $40.99 by 2.45% that was again brought down to $39.88 in the next hour. Litecoin price recovered marginally and locked itself around $40.
Currently, the currency is trading near its immediate resistance level of $41. The same is likely to get violated within a few hours. The immediate support level at $39.24 is likely to remain untouched today.