Litecoin (LTC) Up 0.86% Thursday: What's Next?

Thursday, October 20, 2022 08:22 AM | InvestorsObserver Analysts

Litecoin (LTC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Digital Money has increased 0.86% to $51.71.

InvestorsObserver is giving Litecoin a 27 Volatility Rank. Find out what this means to you and get the rest of the rankings on Litecoin!

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Moderately Volatile

InvestorsObserver gives Litecoin a moderate volatility rank of 27, placing it in the bottom 27% of cryptos on the market.

The Volatility Gauge analyzes which means that one day won't define its volatility rank - a trend will. LTC's moderate volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Litecoin price is trading near resistance. With support set at $50.82 and resistance around $51.84. This leaves Litecoin with potential selling pressures ahead as it may be getting over extended.

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.