Litecoin (LTC) has been doing pretty well ever since its value surged over the $60 mark against the U.S dollar. The value of the coin is still very far from its all-time high, after declining massively over the past nine months, but the digital currency has been fighting hard to regain its lost values.
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Litecoin (LTC) has had a lot of positive developments around it lately, with CoinText providing support for the digital currency recently. CoinText provides an SMS service that allows users to send and receive digital currencies through their mobile phone number. The digital currency was also listed by SFOX recently, further increasing the exposure and liquidity of the digital currency.
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Litecoin (LTC) Price Today – LTC / USD
LTC is currently changing hands at $61.30 after a decrease of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $3.57 billion and its trading volume over the past twenty-four hours is $492.37 million.
Litecoin (LTC) Price Analysis
Litecoin (LTC) is still strongly supported by yesterday’s highlighted $59 support level. The digital currency is trading slightly over the $60 level and it looks set to surge higher in the short-term. The value of the digital currency recently declined below the $59 mark and tested a new low at the $58.85 mark. However, the digital currency started a broke over the $60 mark.
It also broke over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $65 to the low of $58.85. This paved the way for more gains towards the $62 level and the 100-hourly simple moving average.
The value of Litecoin (LTC) is still strongly supported by the $59 level and the next strong support is at the $57 mark. On the upside, the coin is capped at the $62 mark, and a break over this level is needed for more gains towards the $64 and $66 marks.