Litecoin Coming to Terms with New Trading Range, Still Looking for Support

Litecoin (LTC) is now coming to terms with its demoted trading levels, settling into the $20-22 range in recent days following its fateful fall through the critical .

Litecoin is currently trading at around $21. While it has stabilized, it is struggling to hang on to the , showing cracks on several occasions within the last 48 hours, albeit not by a huge margin. It will take a few more days to tell if there is any substance to this level or if the cracks will propagate.

In terms of resistance, LTC had been getting something going around $21.40, but even this level is starting to bend downward. The silver lining has been LTC's relative stability, thus far keeping its head above $21 for the most part even in the face of declining resistance levels.

Versus Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, LTC has still declined despite , now trading at about 26 mBTC.

As previously reported, it was absolutely critical for LTC to keep above the $23 floor- a price point which had repeatedly served as a reliable of defense in the face of a variety of market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term. Its failure to do so has entailed a nearly impossible climb back above it, with only one brief and unstable hiatus above the $23 mark since its fateful descent.

Litecoin these days no longer needs negative news items or hacking scares to keep it in its reduced range or even decline further in the near term. The downward pressure imposed by unsupported weight of its old floor exposes a reduced underlying fundamental sentiment and will keep it there while things are quiet.