Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,250,729,824,604	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,250,729,824,604

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-172.25	-0.27%	63,723.24	63,723.23	63,723.24

Price Change

Price Change %

Current Price

Bid Price

Offer

-172.25

-0.27%

63,723.24

63,723.23

63,723.24

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,636.75	62,908.34	64,008.79	63,892.52	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,636.75

62,908.34

64,008.79

63,892.52

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:48:20	0.000053	63,723.24	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:48:20

0.000053

63,723.24

USD

Price x Volume	Volume	Base Symbol	Related Pairs
335,564,272.18	5,258.44	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

335,564,272.18

5,258.44

Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze

04/07/2022 6:22am

NEWSBTC

The price of Litecoin (LTC) is currently negative after a significant amount of liquidation. Monday’s data from Coingecko indicates that the price of LTC has decreased by 1.4% over the past week and is currently trading at $49.98. LTC had previously achieved support at $49.68, but was unable to maintain the levels and experienced a price decline. The LTC/USD pair is currently encountering resistance at $50.85; a move over this level would target $51.50. The one-day price chart for Litcoin indicates an upward trend that may persist for some time. However, it may not be steady enough to overcome the market’s significant bearish pressure. Suggested Reading | Dogecoin (DOGE) Could Use Some Lift – An Elon Musk Tweet, Perhaps? Litecoin Facing Heavy Selling Pressure In the previous several days, the Litecoin market has been highly volatile, with values surging and then falling rapidly. After failing to maintain the $52 level and facing severe selling pressure, LTC prices began to retreat. The cryptocurrency’s market capitalization is approximately $3.5 billion, and its 24-hour trading volume is $373 million. At $55.62, which is a resistance level, the LTC/USD pair established a new all-time high on Friday. This level has been retraced, and the price is currently trading below $55.50. If the price continues to decline, immediate support may be found at $54.00. LTC ROI Down Over Past 12 Months Aside from its functionality, LTC is now of little benefit to investors because it does not generate a significant profit for its holders. The coin’s return on investment over the past year has decreased dramatically, with most statistics falling into the red zone. Furthermore, of the millions of investors that buy LTC, only a few hundred thousand are still profitable. These investors purchased their supply at a price below the altcoin’s current market value. These investors represent only 13% of all LTC holdings. Suggested Reading | Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls Even though bears are currently trying to sustain momentum, they have succeeded in driving the price of LTC below the $50 threshold. Meanwhile, given that Litecoin’s market value is also at an all-time low, it is not unexpected that new investors are avoiding the asset. Despite this, LTC’s existing community will continue to patronize LTC, giving the coin a good chance of mounting a recovery. Featured image from NDTV.com, chart from TradingView.com

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