Litecoin price analysis: LTC/USD locked in a range, despite upcoming Litecoin futures launch

  • LTC/USD is sidelined, waiting for an incentive to break free from the range.
  • Crypto Facilities will introduce Litecoin futures.

Litecoin is changing hands at $97.70, up 2.2% on daily basis and unchanged since the beginning of the day. Litecoin's market value is registered at $5.6B with average trading volume at $252M. 

Litecoin is down nearly 60% since the start of the year, but it is still 120% higher in 12-month span, which is in sync with global cryptocurrency market developments.

Crypto Facilities, a UK-based cryptocurrency futures trading platform, announced the decision to launch Litecoin-based futures, that will go live on Friday, June 22. The news produced litttle market reaction so far, though some experts are worried that LTC futures will lead to an increased downside pressure on the coin as the derivatives make selling cryptocurrency much easier. 

 "We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets," Timo Schlaefer, CEO of Crypto Facilities commented.

Litecoin technical picture

LTC/USD stays in a tight range, capped by $100 on the upside and $93.00 on the downside. A clear breakout in either direction si needed for the coin to gain momentum in the near-term. Near-term support is seen at $96.00 with a host of SMAs creating a strong hurdle for LTC bears. 

LTC/USD, 30-min 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 price prediction Bitcoin, Ripple, Ethereum: Cryptos seeing multiple launches into the universe

The BTC/USD pair is currently trading at the $10.187 price level, the same price level as in recent weeks. The most serious difficulty for Bitcoin is the low volatility, after many days in the same price range, strength and speed indicators are at minimum levels. It will not be easy to start again.

More Bitcoin News

Ethereum (ETH) price analysis: ETH/USD settles above $200.00 amid altcoins'bull run

The second-largest cryptocurrency with the current market capitalization of $22.9 billion hit $215.18 during early Asian hours. While the coin has retreated to $212.40 by the time of writing, the upside momentum remains strong as the coin stays above a critical $200.00.

More Ethereum News

NEO price analysis: NEO/USD retreats from intraday high, upside momentum recedes

NEO is performing strongly on Wednesday. The 20th largest digital asset with the current market value of $69 million gained over 7% both on a day-on-day basis and moved nearly 3% higher since the beginning of the day.  At the time of writing, NEO/USD is changing hands at $9.80, off the intraday high of $9.87. 

More NEO News

TRON market update: TRX/USD tests DMA50 for the first time since July

TRON (TRX) is one of the best performing coins on Wednesday. TRX/USD has gained over 10% of its value to trade at $0.0178 by press time. While the coin has retreated from the intraday high ($0.0178), the upside momentum is still strong as TRX is moving in sync with the rest of the market. 

More Tron News


Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast