Litecoin’s Price Dropped By 0.40% After Recent Rally

Litecoin’s price dropped by more than 0.40 percent despite the altcoin managing to keep its pace with the rest of the market until it became extremely volatile. A close look at the charts shows that the LTC/USD pair dropped the past Monday as we are reading further in the Litecoin news today.

Some of the Litecoin FAQ is regarding the price and its opportunities to rally to an intraday high point of $72 before reversing. The LTC price also came up against the first major resistance position at $72 before it dropped into a later low of $68. Litecoin’s price dropped again soon after and was able to reach the $70 resistance area before going red.

While steering clear of the first important support position at $67.20, the altcoin’s price got to the $70 level later in the day before it jumped into the red zone. As of when the content was published, the Litecoin price had increased by 0.29 percent and trading at $69.75. There is a mixed start to trade on the day saw the price of the asset to reach an early morning high point of $70.46 before dropping to a new low at $69.46. The value of Litecoin left the significant support and resistance positions early in the day and the price of the coin has been moving up and down over the day.

The price has to go back to the $70 level if it wants to carry out another run at the first major resistance position of $72. In the meantime, the support from the rest of the market would be required for the value of the asset to break into $72 once again. Barring an extended bull run, the first huge resistance for Litecoin and the high price point from Monday will limit the chances of any upside.

If another fresh crypto market breakout happens, the next major resistance position for LTC at $74.93 will come into effect. If the LTC price doesn’t manage to break above the $70.25 level, we should expect to see Litecoin’s value in a reverse pattern once again. A fall back to the morning lows of $69.46 would make sure that the first major support position for the coin will come into play.
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