Crypto Price Analysis 12/21: Litecoin (LTC), Can Traders Expect Growth?

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Crypto Price Analysis 12/21: Litecoin (LTC), Can Traders Expect Growth?

Litecoin (LTC) Crypto price analysis for December 21 - This week has witnessed an impressive rise in the global crypto market following a steady decli

Litecoin (LTC) Crypto price analysis for December 21 – This week has witnessed an impressive rise in the global crypto market following a steady decline in the previous week.

CoinMarketCap data shows that the general crypto market cap is up by 0.48% in the last 24 hours, raising its total market volume to 1.65 trillion. Also, the bullish sentiment across the crypto community as the fear & greed index rests at 74.

crypto fear and greed index

Source: Alternative

The largest cryptocurrency in the world, Bitcoin surged yesterday December 20, almost reaching $45,000. The price capped at $44,200 getting close to its 2023 high of $44,700. At press time, BTC is trading at $43,627 representing a 1.24% drop in the last 24 hours.

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Furthermore, Ethereum, the second-largest cryptocurrency by market cap continues to trade above the $2,200 mark. At the time of writing, ETH is changing hands at $2,240 representing a 0.93% increase in the last 24 hours.

With the current crypto market trend, let us look at the price analysis for Litecoin (LTC) to see how the price reacts.

Litecoin (LTC) price analysis

According to data from Coinstats, the price of Litecoin (LTC) has decreased by 1.54% in the last 24 hours and also dropped by 2.84% over the last 7 days.

On the hourly chart, Litecoin’s price has made a false breakout of the support level of $69.22. There would be a chance to test the $71-72 zone soon if the bar closes either near the resistance level or above it.

Litecoin (LTC) price analysis

Source: TradingView

On the daily chart, the situation is less favorable as the price continues to trade close to the $67.91 mark. Traders can expect a test of the support level if the $70 zone is lost, ultimately leading to a drop to the $64-$66 zone.

Crypto Price Analysis 12/21: Litecoin (LTC), Can Traders Expect Growth?

Source: TradingView

The weekly bar closing to the previous bar low should be the main focus of attention on the larger chart. Should it surpass $70.15, buyers might take control, potentially resulting in a reversal to $72.

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Litecoin (LTC) price today

According to data from Coinstats, the price of LTC today is $70.25. Litecoin has a 24-hour trading volume of $327,282,179 ($327 million) and a live market cap of $5,198,692,079 ($5 billion) placing it at the #19 position on the global crypto market chart.

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