Litecoin price (LTC/USD) bounces back after couple of poor trading sessions

The Litecoin price (LTC/USD) has made a bit of comeback on Friday, recovering some of the losses it incurred in the previous couple of sessions.

Having lost just over 4% of its value on Wednesday, Litecoin made a tentative attempt to bounce back during yesterday’s morning session, when it managed to rise to $42.55. However, this turned out to be the only bit of continuous positive price action for LTC, as frequent price fluctuations significantly hindered the coin’s momentum in subsequent trading. The coin eventually finished the session at $41.64, down from its opening price of $41.88.

Litecoin has made a much more decisive move toward recovery on Friday. The coin’s price surged above the $42 mark in the morning and even managed touch the $43 level. While the coin appears to have lost some steam in recent trading, it is currently hovering around $42.70, well above its opening price level.

Litecoin has seen a slight dip in terms of market activity, with recent data showing that around $930 million worth of LTC tokens have changed hands over the past 24 hours. On Thursday, the coin’s daily trading volume dipped below $1 billion for the first time in a week.

The current price levels put Litecoin slightly ahead of EOS in terms of market capitalisation. LTC, which is often referred to as ‘the silver to Bitcoin’s gold’, is currently the fourth-largest digital currency on the market, a position it captured thanks to a near-40% gain last week.  

In today’s trading, the Litecoin price stood at $42.64, as of 13:20 GMT. The virtual token has gained 2.7% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. Its total market capitalisation currently stands at just over $2.5 billion.

For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.