Litecoin price analysis: LTC/USD capped by $68.00 ahead of Litecoin Summit
|- Litecoin is recovering, but upside may be limited.
- Students have a chance to attend Litecoin Summit free of charge.
Litecoin is changing hands at $67.20 amid the resumed recovery on the cryptocurrency market. The coin has gained over 12% in seven days, though the upside has stalled on the weekend. Litecoin takes the 7th place in cryptocurrency rating with market value $3.77B and average daily trading volume $229M.
Meanwhile, Litecoin Foundation aims to attract young talents, by inviting students to Litecoin Summit at the South San Francisco Conference Center on September 14-15 free of charge.
"This is great! These students are the future and will help us realize the full potential of #crypto & #blockchain.
We're offering FREE DAY 2 tickets for students! Use code StudentpassLF at checkout and bring a valid student ID to the event," the official announcement goes.
According to the latest statistics, over 42% of Universities included crypto and blockchain in their curriculum.
Litecoin's technical picture
On the longer-term level, LTC/USD is capped by $69.00 level with DMA50 on approach. Once this area is cleared, the upside may be extended towards psychological $70.00 followed by $81.42 (23.6% Fibo retracement) and $82.00 (DMA100). On the downside, a sustainable movement below $61.00 will trigger sell-off towards $60.00, followed by $55.66 (August 13 low).
LTC/USD, 1-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.