Litecoin (LTC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Digital Money has increased 0.7% to $77.68.
Moderately Volatile
InvestorsObserver gives Litecoin a moderate volatility rank of 27, placing it in the bottom 27% of cryptos on the market.
The Volatility Gauge analyzes this makes its score defined by recent trends, rather than a bad day.
LTC’s moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Litecoin price is favorably positioned going forward. With support around $70.76 and resistance set at $82.54. This positions Litecoin with room to run before facing selling pressures.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter
Read More: Litecoin (LTC) Rises 0.7%, Underperforms the Crypto Market Thursday