Litecoin (LTC) price analysis: LTC/USD stays above $75.00 as upside momentum fades away

  • The 5th largest asset is rangebound on Thursday 
  • Litecoin core wallet is updated. 

Litecoin (LTC) is changing hands at $75.24, off the intraday high of $76.27. The fifth largest digital asset with the current market value of $4.6 billion has gained over 1.5% in recent 24 hours moving in sync with the rest of the market. 

LTC/USD has been rangebound this week as the recovery from May 6 lows is limited by psychological $80.00 with 50% Fibo retracement located on approach. Once the barrier is taken out, the upside momentum is likely to gain traction with the next focus on $83.26 (May 4 high) and $84.34 (38.2% Fibo retracement). 

On the downside, the initial support lies with $74.25 handle, strengthened by SMA100 (4-hour). It is followed by May 6 low at $72.28 and psychological $70.00 

Litecoin Core update 

The developers of the fifth largest digital asset released an update for the cryptocurrency wallet Litecoin Core v0.17.1. The release includes minor interface changes, extended privacy functionality and reduced transaction fees (0,0001 LTC). Thus, at the current exchange rate, users will pay on average $0.15 to have their transactions written in a block. However, in the periods of low demand the fee may be less than $0.01. The developers believe that new functionality will appeal to those who wants to launch their own Lightning Network. 

LTC/USD, 4-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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Cardano Price Prediction: ADA eyes $1 amid market-wide sell-off

Cardano price has failed to recover to pre-crash levels, hinting at a dearth of buying pressure. The recent short mania might cause ADA to dip into the demand barrier ranging from $0.98 to $1.07.

More Cardano news

Bitcoin price falls below $50K as investors rush to exit crypto markets

Bitcoin price dipped below $50,000 after an announcement revealed that US President Joe Biden could increase capital gains taxes for the rich. The leading cryptocurrency fell in tandem with the US stock market as fears of a potential tax ...

More Bitcoin News

Zilliqa Price Prediction: ZIL crash to extend another 12% if this key level breaks

Zilliqa price has dropped 53% since April 17, pushing it from $0.254 to $0.117. A bounce from the 100 SMA seems plausible, but a failure will set the stage for a crash that could extend well beyond 12%. 

More Zilliqa news

Ethereum miners raise gas limit to 15 million as on-chain activity increases

Following the Berlin hard fork, Ethereum’s network is ready to raise its gas limit once again. Raising the gas limit could be a temporary solution to high gas fees and network congestion. 

More Ethereum news


Bitcoin Weekly Forecast: Institutional wave of BTC adoption follows new all-time highs

Bitcoin price hitting a new all-time high and Coinbase’s direct listing are perhaps two of the most important developments surrounding the pioneer cryptocurrency over the past week.

Read the weekly forecast