Litecoin’s Surge From $48 to $53. Over the last 24 hours, Litecoin LTC has increased by more than 10% but the bulls aren’t out of the game yet.
As long as the price of Bitcoin is rising, there is a strong chance that Litecoin will keep rising as well. At the time of writing, the price of Bitcoin BTC was $10,933.56. It is up by 6.43% against the USD. The trading volume over a 24 hour period is $36,691,290,161 and the market capitalization is $201,667,705,841. Bitcoin BTC will most likely cross the next key resistance at $11,000 before the end of the day.
At the time of writing, the price of Litecoin LTC was $53.57. It is up by 9.47% against the USD and up by 2.39% against Bitcoin BTC. The trading volume over a 24 hour period is $3,462,557,840 and the market capitalization is $3,488,529,329. A rise in the price of Bitcoin BTC to the $11,000 level will positively influence Bitcoin and the rest of the cryptocurrency industry including Litecoin LTC. This will be a much-needed boost for Litecoin LTC, which has moved from the 4 places to the 8th place on CoinMarketCap over the last one year.
The current bullish momentum for Litecoin LTC is the second major one it has gotten in the last few months. There is a strong chance that the Litecoin LTC token will pull back soon.
This isn’t unusual in the cryptocurrency market. A healthy pullback always follows a bullish surge. A surge after this will take the price of LTC as high as $55 near-term. Over the last seven days, Litecoin has risen by over 15%. The next few trading sessions will determine if the price of Litecoin LTC will keep rising or it will fall lower against the USD.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Litecoin LTC Surges, Gaining Higher Against the USD After Surging from $48 to $53 in Less than 24 Hours
- Litecoin LTC’s Rise to the $53 is All Thanks to Bitcoin’s Current Bull Rally
The cryptocurrency market has been on fire for the last few days. At first, Cardano was taking the lead. Now, Bitcoin is taking the lead and it is heading toward the $11, 000 level for the first time in almost one year. Litecoin LTC wasn’t left out of the party this time.
The baby brother of Bitcoin has increased from $48 to $53 in less than 24 hours. In our Litecoin news yesterday, we talked about the possibility of Litecoin falling below the $40 level if the bulls didn’t pick up the pace before the end of the trading day. Thankfully, things took a turn for the better and the token started to surge speedily against the USD.
