Litecoin lived through a tough year, down 92% from its peak

Litecoin is changing hands at $31.17, mostly unchanged on a day-to-day basis, but down 2.8% since this time on Sunday. The 8th largest cryptocurrency is moving within a range, just like the majority of other digital assets. The low trading activity is typical to the holiday season when many traders are away from their trading desks.

Litecoin's year in review

LTC/USD reached its all-time high at $375.54 in December 2017. Since that time the coin has lost nearly 92% of its value. The coin touched its lowest level in December ($22.37) and had ten "red" months out of twelve. February and April were the only tow "green" months this year. 

All in all, Litecoin is moving in lockstep with Bitcoin, with short periods of divergent momentum caused by LTC-specific news. Litecoin Foundation puts much emphasis on coin's mass adoption as a means of payment for everyday needs.

Litecoin's technical picture

On the intraday level, LTC/USD is capped by SMA50, 4-hour at $31.67. Once it is broken, the price may proceed to an important technical hurdle at $33.00, created by the upper line of a triangle formation. A sustainable movement higher is needed to ensure a recovery towards $40.00

On the downside, the support lies with psychological $30.00, strengthened by SMA100 (4-hour). Meanwhile, even stronger support is created by SMA200 and the lower line of the above-said triangle at $29.30. A sustainable movement lower will open up the way towards $25.00.

LTC/USD, 4-hour