Litecoin has managed to keep pace with the market and fetched a bullish week. In this period, the price has been escalated by a whopping 12.18%, and it has rested at 67.75 USD.
Litecoin Price Analysis
On January 29, LTC started the day at 60.39 USD, and over the next day, it witnessed a huge hike of 15.90% that pushed the price to 69.99 USD. It was followed by another price boom that happened between January 30 & February 01. Over this one day, Litecoin shot its price up to 72.90 USD, the highest point of the week, and the only time it went beyond 70 USD in the last seven days. However, due to the absence of any strong fundamentals on its back, it nosedived to 67.36 USD by February 04.
Litecoin’s market cap has witnessed an immense gain over the last week. The market cap on January 29 was 3.842 billion USD, and over the last week, it has been inflated to 4.348 billion USD.
LTC’s current price is lagging behind its both daily moving averages, i.e., 50 days MA (67.78 USD) and 20 days MA (67.77 USD). There may be a few unprecedented price shifts in the short-term. However, Litecoin is likely to have a bullish run ultimately in the long run.
| Litecoin (LTC) | Resistance and Support levels |
| 1st Resistance | $70.05 |
| 2nd Resistance | $71.90 |
| 3rd Resistance | $73.48 |
| 1st Support | $66.62 |
| 2nd Support | $65.04 |
| 3rd Support | $63.19 |
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