The seventh largest cryptocurrency – Litecoin (LTC) has experienced downward pressure since the beginning of this year which can best be judged from the following analytics. The market cap of Litecoin stands at $1,935,524,474with price traded at $32.68 as per CoinMarketCap on 20th November 2018 at 3:36 pm IST.

The LTC/USD pair soaring high at the level of $232.187 in the beginning of February 2018 which can be observed from the aforesaid analytics, where LTC/USD traded at the level of $233.87 on 20th February 2018 however above the moving average which was the clear signal of “uptrend” in the value. The next blue horizontal line specified the level of $178.192 above which LTC/USD rebound its position at the level of $181.791 on 5th May 2018 however marked an ‘uptrend’ again. Thereafter it started attaining the downward sloping and eventually reach at the level of $32.68 on 20th November 2018 below the moving average trend line. Amid the entire scenario, the prices near the pink horizontal line experienced the value gain almost two times on 1st September and 1st October. Even though the LTC/USD continuously experiencing downward moments, it still is in the top ten by market cap. The last quarter scenario has seen downward pressure due to competitive forces and macro fundamentals. The last quarter has experienced the little selling compared to what observed from 5th May to 1st July where investors/user community sold this currency to a larger extent. One may expect the correction in the market and see the price rebounding soon!!

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