LTC Price Analysis March 2023
LTC is a token of the platform Litecoin. Its current price is around $95.15 at the time of writing, with a low of $40.68, and it has a market cap of 6 billion dollars.
What is Litecoin (LTC)?
Litecoin (LTC) is a peer-to-peer cryptocurrency created in 2011 by Charlie Lee, a former Google engineer. It is often referred to as the “silver to Bitcoin’s gold” because it is similar to Bitcoin in many ways but with some distinct differences. Like Bitcoin, Litecoin is based on a decentralized blockchain network that allows for secure and transparent transactions without intermediaries like banks.
LTC is the coin of the Litecoin platform, which is around $95.15 at the time of writing, with a low of $40.68. It reached a high of $133.91, and its current ranking is #13, according to CoinMarketCap, with a market cap of 6 billion dollars.
LTC Coin Market Analysis
LTC has a total supply of 84,000,000 coins worth around $95.15 with a market volume of 347 million dollars, whereas the market capitalization is 6 billion dollars at writing.
Litecoin has recently experienced substantial growth, gaining more than 52.89%. Insights like this can help investors recognize potential support and resistance levels to better inform their trading strategies.
It’s important to note that many $LTC holders had previously suffered losses when they dropped to 85%, occurring in 2015, 2018, 2019, 2020, and 2022. Litecoin may have recently experienced its lowest point, but previous bear markets suggest it could easily return to this level. Therefore, caution should still be exercised when trading Litecoin.
LTC Price Prediction
In the 2H timeframe, the price action of $LTC/USDT is rejected from the horizontal resistance zone. Therefore, a downward movement is expected from here. On the other hand, if it breaks the resistance zone after a successful retest, it can go upward.
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The Crypto market is known for its volatile nature. According to the above analysis, the coins we discussed might prove to be profitable if other market conditions prevail favorably. We suggest you engage in adequate research before investing in any digital assets.