- Since its all-time low, the LTC crypto value has elevated by 5965%.
- The Litecoin crypto has witnessed an enormous lengthy liquidation within the final 24 hours.
Litecoin (LTC) is a fork of Bitcoin that provides quicker and cheaper transactions. It was created by Charlie Lee, a former Google engineer, who now leads the Litecoin Basis. LTC has a restricted provide of 84 million cash and makes use of new applied sciences like SegWit and Lightning Community.
The Litecoin crypto hit its all-time excessive value of $412.96 about two years in the past and since then, the worth has declined by 83.6%. The present buying and selling value of the crypto is $67.88 and the full worth locked for the crypto is $3.55 Million.
Moreover, the quantity/market cap ratio of the crypto is 9.16% and the market cap rank of the crypto is 18th, as per CoinMarketCap. The buying and selling quantity of Litecoin has elevated by 25.6% within the final 24 hours and the market cap has declined by 5.8%, leading to $5.034 Billion.
Litecoin has a max provide of 84.0 Million LTC and it has the identical quantity of whole provide. Moreover, the totally diluted market cap of the crypto is $5.703 Billion and it has a circulating provide of 74.123 Billion LTC.
Litecoin Derivatives Evaluation
As per Coinglass, the lengthy/brief ratio for Litecoin is 0.9376 and there was a rise of 45.69% within the buying and selling quantity of the crypto. The worth of the traded quantity for the crypto is $652.27 Million.
Moreover, the lengthy liquidation recorded for the Litecoin crypto is $1.33 Million and the brief liquidation for the crypto is $33.80K.
LTC Crypto Technical Evaluation
Litecoin (LTC) is going through a robust bearish strain on the upper time frames, and is counting on a shifting trendline for help. A breakdown under this trendline might set off an extra downward motion for the cryptocurrency.
LTC/USD Chart by TradingView
The indicators on the daily chart of the Litecoin crypto are indicating a bearishness within the inventory value.
The EMAs such because the 20, 50 and 200-day EMAs are forming a bearish cross and the worth of the crypto has additionally declined under them.
The MACD showcases a bearish cross of the MACD and the sign strains whereas they’re each under the zero stage forming bearish histograms.
The RSI has additionally declined under the 50-level and the 14-day SMA, indicating weak spot within the value momentum of the Litecoin crypto.
Abstract
Litecoin (LTC) is a Bitcoin fork that faces a robust downtrend on the upper time frames. The crypto has damaged under a key trendline and will drop additional. The symptoms are bearish and the quantity/market cap ratio is low. LTC has additionally seen an enormous lengthy liquidation within the final 24 hours.
Disclaimer
The views and opinions acknowledged by the writer or another particular person named on this article, are for informational functions solely and don’t represent monetary, funding, or different recommendation. Investing in or buying and selling crypto or shares comes with a threat of monetary loss.