Litecoin (LTC), Low Volatility but Falling Sunday: Is it Time to Cash Out?

Sunday, September 04, 2022 05:06 PM | InvestorsObserver Analysts

Litecoin (LTC) has been relatively less volatile when compared to other cryptocurrencies. So far Sunday, the Digital Money has fallen 1.66% to $60.08.

InvestorsObserver is giving Litecoin a 23 Volatility Rank. Find out what this means to you and get the rest of the rankings on Litecoin!

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Low Volatility

InvestorsObserver gives Litecoin a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.

The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day. LTC's low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Litecoin price is favorably positioned going forward. With support around $58.64 and resistance at $60.76. This positions Litecoin with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.