Litecoin price analysis 15 September: LTC up, half of the top ten tokens are in the red

Peter Terlato 15 September 2018 NEWS

Bittrex adds LTC/USD trading pair to exchange platform and the Litecoin Summit kicks off in San Francisco.

Key takeaways

  • Litecoin has been experiencing price gains during the early hours of trade.
  • Trading volumes have slipped down slightly from weekly highs witnessed yesterday.
  • The Litecoin Summit is underway in San Francisco, California.

Litecoin, an alternative cryptocurrency, is trading positively this morning, up 1.5% against the US dollar and 1.75% against market leader bitcoin. Comparatively, half of the top ten tokens, by market cap, are losing value.

Litecoin

From the beginning of trade today, Litecoin's price has risen steeply (3.2%) from US$53.84 to US$55.60.

The coin's value continues to rise, closing in on its previous weekly high of US$57.59 on 8 September.

At the time of writing, LTC was valued at US$55.65.

24-hour trading volumes have fallen from a weekly high of US$295 million yesterday to US$287 million.

Forex Crunch reports that Litecoin buyers have been attempting to recover some of yesterday's losses but the support turned resistance at US$54.00 is impeding this movement. However, if traders are able to keep pushing the price up then the US$56.00 level is within reach and a path to medium-term resistance at $60.00.

The Litecoin Summit has officially begun. For the next two days, Litecoin creator Charlie Lee and the Litecoin Foundation will host a myriad of guest speakers, YouTube personalities, media partners and event attendees at the South San Francisco Conference Center in sunny California. A jam-packed schedule means that there are plenty of opportunities for market-moving news to stream out of the event, perhaps affecting the token price.

Over the next two days, you can stream live presentations from the Summit directly from Litecoin's website.

Additionally, cryptocurrency exchange Bittrex announced it will be adding support for the LTC/USD trading pair.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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