{"id":494800,"date":"2022-07-04T05:22:26","date_gmt":"2022-07-04T05:22:26","guid":{"rendered":"https:\/\/wncen.com\/?p=494800"},"modified":"2022-07-04T05:39:46","modified_gmt":"2022-07-04T05:39:46","slug":"litecoin-ltc-drops-below-50-after-consistent-bearish-squeeze","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin-ltc-drops-below-50-after-consistent-bearish-squeeze\/","title":{"rendered":"Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze"},"content":{"rendered":"

The price of Litecoin (LTC) is currently negative after a significant amount of\u00a0liquidation. Monday’s data from Coingecko indicates that the price of LTC has decreased by 1.4% over the past week and is currently trading at $49.98.<\/p>\n

LTC had previously achieved support at $49.68, but was unable to maintain the levels and experienced a price decline. The LTC\/USD pair is currently encountering resistance at $50.85; a move over this level would target $51.50.<\/p>\n

The one-day price chart for Litcoin indicates an upward trend that may persist for some time. However, it may not be steady enough to overcome the market’s significant bearish pressure.<\/p>\n

Suggested Reading | Dogecoin (DOGE) Could Use Some Lift \u2013 An Elon Musk Tweet, Perhaps?<\/a><\/em><\/strong><\/p>\n

Litecoin Facing Heavy Selling Pressure<\/h2>\n

In the previous several days, the Litecoin market has been highly volatile, with values surging and then falling rapidly.<\/p>\n

After failing to maintain the $52 level and facing severe selling pressure, LTC prices began to retreat. The cryptocurrency’s market capitalization is approximately $3.5 billion, and its 24-hour trading volume is $373 million.<\/p>\n

At $55.62, which is a resistance level, the LTC\/USD pair established a new all-time high on Friday. This level has been retraced, and the price is currently trading below $55.50. If the price continues to decline, immediate support may be found at $54.00.<\/p>\n

<\/p>\n

LTC ROI Down Over Past 12 Months<\/h2>\n

Aside from its functionality, LTC is now of little benefit to investors because it does not generate a significant profit for its holders. The coin’s return on investment over the past year has decreased dramatically, with most statistics falling into the red zone.<\/p>\n

Furthermore, of the millions of investors that buy LTC, only a few hundred thousand are still profitable. These investors purchased their supply at a price below the altcoin’s current market value. These investors represent only 13% of all LTC holdings.<\/p>\n

Suggested Reading |\u00a0Cardano (ADA) Looks To Recover After Sliding To $0.43 \u2013 Pressure\u2019s On For The Bulls<\/a><\/em><\/strong><\/p>\n

Even though bears are currently trying to sustain momentum, they have succeeded in driving the price of LTC below the $50 threshold.<\/p>\n

Meanwhile, given that Litecoin’s market value is also at an all-time low, it is not unexpected that new investors are avoiding the asset. Despite this, LTC’s existing community will continue to patronize LTC, giving the coin a good chance of mounting a recovery.<\/p>\n

Featured image from NDTV.com, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
The price of Litecoin (LTC) is currently negative after a significant amount of\u00a0liquidation. Monday’s data from Coingecko indicates that the price of LTC has decreased by 1.4% over the past week and is currently trading at $49.98. LTC had previously achieved support at $49.68, but was unable to maintain the levels and experienced a price decline. The LTC\/USD pair is currently encountering resistance at $50.85; a move over this level would target $51.50. The one-day price chart for Litcoin indicates an upward trend that may persist for some time. However, it may not be steady enough to overcome the market’s significant bearish pressure. Suggested Reading | Dogecoin (DOGE) Could Use Some Lift \u2013 An Elon Musk Tweet, Perhaps? Litecoin Facing Heavy Selling Pressure In the previous several days, the Litecoin market has been highly volatile, with values surging and then falling rapidly. After failing to maintain the $52 level and facing severe selling pressure, LTC prices began to retreat. The cryptocurrency’s market capitalization is approximately $3.5 billion, and its 24-hour trading volume is $373 million. At $55.62, which is a resistance level, the LTC\/USD pair established a new all-time high on Friday. This level has been retraced, and the price is currently trading below $55.50. If the price continues to decline, immediate support may be found at $54.00. LTC ROI Down Over Past 12 Months Aside from its functionality, LTC is now of little benefit to investors because it does not generate a significant profit for its holders. The coin’s return on investment over the past year has decreased dramatically, with most statistics falling into the red zone. Furthermore, of the millions of investors that buy LTC, only a few hundred thousand are still profitable. These investors purchased their supply at a price below the altcoin’s current market value. These investors represent only 13% of all LTC holdings. Suggested Reading |\u00a0Cardano (ADA) Looks To Recover After Sliding To $0.43 \u2013 Pressure\u2019s On For The Bulls Even though bears are currently trying to sustain momentum, they have succeeded in driving the price of LTC below the $50 threshold. Meanwhile, given that Litecoin’s market value is also at an all-time low, it is not unexpected that new investors are avoiding the asset. Despite this, LTC’s existing community will continue to patronize LTC, giving the coin a good chance of mounting a recovery. Featured image from NDTV.com, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":494803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16897],"tags":[428,6664,10,2828],"class_list":["post-494800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-litecoin","tag-bitcoin","tag-crypto","tag-litecoin","tag-ltc"],"acf":[],"yoast_head":"\nLitecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze<\/title>\n<meta name=\"description\" content=\"The price of Litecoin (LTC) is currently negative after a significant amount of\u00a0liquidation. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze","url":"http:\/\/wncen.com\/news\/litecoin-ltc-drops-below-50-after-consistent-bearish-squeeze\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/litecoin-ltc-drops-below-50-after-consistent-bearish-squeeze\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Litecoin.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Litecoin.png?fit=813%2C500"},"articleSection":"Litecoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","litecoin","ltc"],"dateCreated":"2022-07-04T05:22:26Z","datePublished":"2022-07-04T05:22:26Z","dateModified":"2022-07-04T05:39:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin-ltc-drops-below-50-after-consistent-bearish-squeeze\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin-ltc-drops-below-50-after-consistent-bearish-squeeze\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Litecoin.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Litecoin.png?fit=813%2C500\"},\"articleSection\":\"Litecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"litecoin\",\"ltc\"],\"dateCreated\":\"2022-07-04T05:22:26Z\",\"datePublished\":\"2022-07-04T05:22:26Z\",\"dateModified\":\"2022-07-04T05:39:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Litecoin.png?fit=813%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=494800"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/494803"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=494800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=494800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=494800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}