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- 1 At the time of writing, the Litecoin price has experienced a fall of 5.96% in the last 24 hours and is currently trading at $102.67.
- 2 The volume analysis shows that the Litecoin crypto has received $1.51 Billion in volume, suggesting the continuation of the ongoing trend.
The volatility and Litecoin price chart of the crypto demonstrates the possible fluctuations in the price. As observed in the chart, Litecoin crypto has shown less development in the volatility chart. It seems considerably lower, favoring the buyers as the price is getting comfortable at heights.
Since the volatility of the Litecoin price seems to be low and comfortable, despite the considerable fluctuation in volume, the stability of the Litecoin crypto price is highlighted at higher levels.
Moreover, the volume analysis shows that the Litecoin crypto has received $1.51 Billion in volume, suggesting the continuation of the ongoing trend in the Litecoin price chart.
Similarly, a further look at the social dominance of the Santiment website is an indicator of the increasing or decreasing acceptance of LTC crypto among users. The social dominance of the LTC crypto chart displays a positive trajectory over the period.
Therefore, increasing social dominance may also positively impact the Litecoin price as increasing user participation may create more demand and help the LTC asset price rise.
Furthermore, the development activity reflects the activity level in the form of undergoing projects and developments in Litecoin crypto. It shows the recent updates and changes occurring in the LTC crypto. The developer’s activity shows that it is on the rise, and the developer’s activity and commit count have exhibited sustained growth over the last three months, as shown on the LTC chart.
The Litecoin Price Analysis Highlights More Bullishness In The Crypto
The Litecoin price has shown an upsurge from the demand zone from $60 and reached the top at $110.
The Litecoin crypto asset is showing bullish traits and highlights that it can achieve more growth. It has demonstrated exemplary performance in the past week, month, and three months by 23.84%, 38.54%, and 41.07%, respectively, indicating a reliable upward trend.
At the time of writing, Litecoin has experienced a fall of 5.96% in the last 24 hours and is currently trading at $102.67.
Therefore, if the demand for the Litecoin price asset increases, it could strongly bounce back from the current level on the daily chart. The next target for the price is to reach $120 and $130.
However, if the Litecoin crypto price fails to stay above the previous swing level at the $95 level, it could decline further and reach lower levels.
Summary
Litecoin’s current market analysis suggests a stable yet bullish trend. The low volatility and high trading volume of $1.51 billion indicate a strong buyer’s market, with the price comfortably high.
Social dominance trends and development activities are on the rise, reflecting increased user interest and ongoing project developments. Despite a recent 5.96% drop, Litecoin has shown significant growth over the past week, month, and three months, with increases of 23.84%, 38.54%, and 41.07%, respectively.
Currently trading at $102.67, Litecoin could target prices of $120 and $130 if demand persists. Conversely, a failure to maintain the $95 support level could lead to further declines. Essentially, Litecoin shows potential for continued growth, supported by positive market sentiment and active development.
Technical Levels
Support Levels: $95
Resistance Levels: $120
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
