. Market Outlook on Litecoin - 12 September 2022

Market Outlook on Litecoin – 12 September 2022

Market Outlook

Litecoin Mount Its Peak Levels Seen over the past 5 days

Litecoin price is down by 1.86% at 4920.00, the 24-hour price change is 7.89%

The pair of LTC/USD could recover soon but it might be limited above $58 and $60 levels. LTC price continued to drop if there is no big move happened in LTC some experts say that move should be above $58.

LTC’s 5-day straight rally registered a growth of 21.4%, Litecoin touches the $60 zone after that a fresh decline started against the US dollar, and LTC price is now between $55 to $60 simple moving average

$54.80 and $55.00 levels are the resistance level for Litecoin and the downtrend is formed with resistance near $55 on the 4-hour chart frame of LTC/USD.

On 2nd September official Litecoin Twitter account posted that according to this post average, Litecoin transaction price is less than one penny this post also benefited LTC/USD because the popularity of Litecoin has increased for transaction purposes. For investors, it was an interesting trend.

The development of Litecoin’s resulted in the creation of Lightning and Atomic Swaps this development suggests that the Litecoin price might rise soon.

According to market capitalization, Litecoin has been the third largest cryptocurrency for a long time.

On technical fronts, Litecoin’s stood at 52.774, and currently, it is trading above all SMA except 5 days MA, so a buy position can be taken with the following target and stop-loss

Trade signal: LitecoinBUY AT 5585.10, TAKE PROFIT AT 5620.00, and STOPLOSS AT 5500.00

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