Litecoin (LTC) Price Prediction and Analysis

Over the past 24 hours, Litecoin's LTC/USD price has fallen 5.59% to $68.52. This continues its negative trend over the past week where it has experienced a 3.0% loss

Litecoin's (CRYPTO: LTC) price has seen a downturn over the past 24 hours and a week.

What Happened: Over the past 24 hours, Litecoin's LTC/USD price has fallen 5.59% to $68.52.

This continues a negative trend over the past week where Litecoin has experienced a loss of 3.0%, moving from $71.0 to its current price.

Litecoin's trading volume has climbed 58.0% over the past week and moved in tandem, directionally, with the overall circulating supply of the coin, which has increased by 0.03%.

This brings the circulating supply to 74.79 million, which makes up an estimated 89.04% of its max supply of 84.00 million.

According to Benzinga Pro data, Litecoin's current market cap ranking is #23 at $5.10 billion.

LTC Price Action: Litecoin trades above the 200-day simple moving average (SMA) but below the 50-day SMA, indicating a long-term bullish outlook and a short-term bearish outlook.

The cryptocurrency is also trading below the 23.6% Fibonacci retracement level, indicating a potential downtrend.

Resistance for Litecoin may be found at the 50-day SMA, which is currently around the $70.0 level, followed by the 23.6% Fibonacci retracement level at $71.0.

Support for Litecoin may be found at the 200-day SMA, which is currently around the $63.0 level, followed by the 38.2% Fibonacci retracement level at $59.0.