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Litecoin Continues To Show Weakness

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Litecoin is one of the most undervalued coins out there. Though the coin is currently priced at just over $80, it has the potential to reach great heights. This is the reason why the trading volumes of Litecoin remain steady despite the fluctuations in its value.

Litecoin (LTC) price today

Litecoin (LTC) price has had a roller coaster ride over the last 24 hours. The coin which started off the day at $81.06 had a steady run for the next 6 hours. Soon after this, it was a game of ‘catch me if you can’ played by the bears and the bulls. The coin price rose to $83.46, but had a dip soon after, bringing its value down to square one. During the course of the next 3 hours, it again spiked to $86.07, but again failed to hold momentum and fell back to $82.23.

At the time of writing, it was trading at $81.75 with the 24-hour trading volume at $428.75 million. Litecoin (LTC) is holding on to its next critical support value of $76 and has bounced back from the level recently. It is also the lowest the coin had stooped down to over the last 6 months. However, today the coin has found a hike of 1.76%

Litecoin Last 30 days

The first half of the month was pretty stable for Litecoin (LTC). But during the second half, the coin has taken one of the worst beatings in a long time. The coin had a decent price of $120.45 on June 9th, which was reduced to $74.21 on June 24th. One good thing for Litecoin (LTC) about the price crash is the increase in trading volumes.

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How high can Litecoin (LTC) price go?

Litecoin (LTC) is one of the oldest cryptocurrencies out there. It has been in existence from 2013 and has spent most of its life under the $10 mark. Its highest ever price was $375.29, which was on December 19, and since then, the coin has reduced by 70%.

Now, Litecoin’s future price can be dependent on several factors such as the project’s potential, the transaction prices, the transaction speed, the ease of mining, coin volatility, ease of trading against the US dollar as well as against other cryptocurrencies.

Since it is highly preferred by some of the biggest crypto favouring countries in the world such as China, South Korea and Japan, there are huge chances of the coin increasing in price soon. Many crypto enthusiasts say that it can maybe equal its highest ever price of just under $400 within the end of this year.

Litecoin Prediction 2018

If the bears kick in, just as they did over the last 2-3 weeks, Litecoin (LTC) and all other cryptocurrencies may have a tough time ahead. But if the bullish trends  take over, there will be no stopping the coin from reaching a minimum of $350 to $400 at the end of this year.

If you’re looking to make some good money by the end of the year, then Litecoin could be a good option to invest in. That being said, it is always suggested that you invest in one crypto which gives instant gains, and in another which can be a long-term investment.