Litecoin Trading- LTC/USD Technical Analysis, Sept 16: LTC back below $5

Litecoin (LTC) has fallen back below $5 for the first time in 6 days as 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 has once again returned.

Since the resumption of selling 24h ago, LTC has shed 7.5%. LTC had previously kept to a relatively tight range around $5.30-5.40. The latest series of drops began suddenly, likely due to a multifold increase in volume. A total of $3.5 million of LTC has been traded during the past 24h.

LTC currently trades at $4.97 on BTC-e. Versus BTC, which continues to trade virtually unchanged, LTC has dropped to 0.0109.

The $4.90 level will be the one to watch over the next 24-48h. It served as a valuable support line earlier this month and served as the floor for additional advances in LTC's recovery from the August sell-off.