The market managed to stay above the support at $118 for the next few months. This Fibonacci Retracement is measured from the entire bullish run outlined above. 768 Fibonacci Retracement priced at $118.37 during February 2018. It had originally found some form of support at a. We can see that after price action placed the ATH, it began to roll over and decline. ![]() This was a price increase totaling 650% from low to high. Litecoin Price Analysis LTC/USD – LONG TERM – DAILY CHARTĪnalyzing the market for Litecoin over the long-term perspective above, we can see that the market had experienced an incredible bullish wave when price action started from a low of $49.02 on Novemand extended to an ATH price of $370.78 on December 19, 2017. Let us continue to analyze price action for Litecoin over the long term. Litecoin is currently trading at a value that is 83% lower than its all-time high (ATH) price. ![]() It has a total market cap value of $3.52 billion after the 65-month old cryptocurrency suffered a 30-day price decline totalling 31%. Litecoin is currently ranked 7th in terms of overall market cap across the entire industry. This showed how Lightning Network could enable small, quick transactions - something that could benefit LTC as well. ![]() The Lightning Network had recently made headlines as Forbes reported that an enterprising hacker was able to buy Coca-Cola through a customized vending machine using the (Bitcoin) Lightning Network. Litecoin also has the Lightning Network active which allows transactions to be processed off-chain, thereby reducing the load on the main blockchain. It was designed to have faster transaction speeds and much lower fees than Bitcoin. The cryptocurrency is currently trading at the $60 handle after seeing a 7.74% price increase over the past 7 trading days.Ĭreated by ex-google employee, Charlie Lee, in October 2011, Litecoin was intended to become a “lighter” rival to Bitcoin. Litecoin has remained relatively stagnant over the past 24 hours of trading, not moving much towards the upside or the downside.
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