On Thursday, Litecoin traded at $ 156,786 on the Investing.com Index, gaining 10.48%. This is the biggest one-day increase since January 3.
With this move, Litecoin’s market cap reached $ 10,338B, representing 0.91% of the total cryptocurrency market cap. The highest market cap of Litecoin cryptocurrency was set at $ 14,099B.
Litecoin has traded in a range of $ 155,929 to $ 156,786 in the past 24 hours.
Litecoin has seen a 24.48% increase over the past seven days, with 24-hour trading volume at $ 8,586B, or 5.96% relative to total volume. Litecoin has traded between $ 125.7013 and $ 156.7863 in the past seven days.
Litecoin price is 62.67% lower than the $ 420.00 level on December 12, 2017.
Litecoin (LTC) Is Ready To Rise!
So far, Litecoin (LTC) has been one of the weakest performing cryptocurrencies among the top 10 cryptocurrencies in terms of market capitalization in this latest altcoin boom, but this is about to change, according to analysts.
Reasons why Litecoin is ready to shine once again and soon become one of the industry’s leading cryptocurrencies:
Markets are recurrent and capital streams starting with one resource then onto the next. In digital currency bear markets, cash moves towards the dollar and away from hazard. At the point when affectability is positive, altcoins for the most part outflank Bitcoin by a huge edge during stages called altcoin season.
Another altcoin season is drawing closer, and even image based resources like Dogecoin (DOGE) are gathering 800% in a solitary day. Ethereum (ETH) set another unequaled high and the other top ten digital currencies by market cap are additionally rising. Indeed, even XRP, a digital currency presently shaken, considered a to be as it was seen by the SEC as an impassive security.
Then, one of the most established digital currencies available keeps on lingering behind the market. Yet, Litecoin might be planning for something gigantic. Litecoin has an amazingly negative standing in the cryptographic money market: both for its inability to create returns for financial backers, and for the coin’s author selling at the highest point of the last positively trending market, causing a dump.
Technical and Key Factors to Fuel Digital Silver
According to data from Grayscale Investments, BTC shares have increased by more than 40,000 BTC over the past 30 days. ETHs decreased by 6,000. However, Grayscale added 150,000 LTC in the same time frame for the number one bullish signal. The supply of assets is not as scarce as Bitcoin, but 84 million LTC is still a poor choice for institutions.
In terms of bullish techniques, Litecoin has moved up from a huge, multi-year symmetrical triangle that envisions a target of about $ 700 per LTC.
The MACD crossover shows that momentum is changing and buying could gain momentum. As with Bitcoin and Ethereum, when assets started to improve, FOMO stepped in and the rest is history. Litecoin rose over 10 percent. According to the opinions of many experts, it is estimated that there will be a little more increase with Litecoin in 2021. Litecoin, which is not in high demand, seems to continue to maintain all its value for now.