Is Litecoin (LTC) Trending Lower or Higher Sunday?

Sunday, May 14, 2023 05:44 PM | InvestorsObserver Analysts

Litecoin receives a weak long-term technical score of 31 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, LTC holds a superior long-term technical analysis score than 31% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.

InvestorsObserver is giving Litecoin a 31 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Litecoin!
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Trading Analysis

Litecoin's price is -$7.5200000 (-8.34%) below its 100-day moving average price of $90.150000000 as its price at the moment sits at $82.630000000. Additionally, LTC is $41.9500000 (176.08%) higher than its 52-week low price of $40.680000000 while -$21.85000000 (69.52%) under its 52-week high of $104.480000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives LTC an average long-term technical score of 31. Long-term trading movement of Litecoin suggest that investors are bearish on the coin at the moment. Litecoin has a market capitalization of $6,025,426,759.26 and a relatively high average daily volume with $2,645,699,065.35 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, LTC's volume is below its seven day average with 388,389,501.50 exchanged. This coin's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Trading patterns over the last year for Litecoin leads to the coin's a weak long-term technical score of 31 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the coin. Click Here to get the full Report on Litecoin (LTC).

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