Litecoin is making a solid recovery after crashing 9%. The price of Litecoin fell hard on October 28th.
Still, it’s now trading near $191 again with some nice gains over the past few days to highlight its resilience as an investment opportunity for crypto investors who care about long-term success rather than just day traders looking for quick profits.
As of writing, Litecoin is up 1.83% to $191.30, which has been a mixed start for the day so far, but it’s had its ups and downs as well.
Litecoin had a rough day on Wednesday, sliding by 9.22%. After reversing its 1% gain from Tuesday and ending the day at $179/LTC, start it off with an early morning high of 205 LTC before hitting reverse.
Litecoin’s price fell through the first significant resistance level at $201. Furthermore, for the day ahead, If Litecoin can avoid the $188 pivot, it has a critical resistance level at $197.
It would need broader market support for its breakout, though; currently, prices are stuck in between these two points with only one direction available to go from here up.
The Litecoin price outlook is brightening up after a sad start. The currency could break out from resistance at $200 and face an even stronger test with the second significant level, which sits around 204 USD per coin.