Positive market momentum is rather enjoyable to watch on a Saturday afternoon. At the same time, it tends to make a lot of people nervous, as they acknowledge this uptrend cannot be sustained indefinitely. At this rate, it seems to be a mere matter of time until the Litecoin price surpasses $100 again. There will be plenty of resistance before this happens, though.,
Where is the Litecoin Price Heading Next?
It would appear as if has suddenly become the talk of the cryptocurrency industry in this week-long bull run. While other markets are gaining value as well it seems LTC does so in a more convincing and prominent manner. That is usually a good sign for bitcoin and other top altcoins as well, albeit there is always a chance this momentum disappears in the blink of an eye.
Over the past 24 hours, the Litecoin price rose by another 6.77% to reach $94.06. In terms of LTC/BTC, there is also an uptrend, albeit the 3.89% change is less significant compared to the net USD gains. With Litecoin slowly approaching the 0.02 BTC level once again, there is seemingly no shortage of bullish momentum at this time.
On social media, the Litecoin fans are coming out en masse when the momentum remains this promising. Litecoin Biker, for example, notes how LTC has nearly twice the trading volume of bitcoin Cash, one of the strongest risers among altcoins today. Even with more trading volume, it remains to be seen if Litecoin can hit $100 in the next few days.
24h volume almost 2x that of BCH.
— Łitecoin Biker (2018 🐻 mkt. survivor) (@PB_and_J_LITE)
Tarun Jain is looking at a slightly bigger picture where Litecoin is concerned. When zooming out on the price chart, it quickly becomes apparent this bull trend has been in place for quite some time now. So far, the past three months have resulted in more than respectable gains, which shows Litecoin is performing better than most other top markets out there.
in it’s own bull market last three months 🔥🔥
— Tarun Jain (@tj_on_tweet)
For those enthusiasts who want a shorter time frame as far as the LTC price momentum is concerned, it seems there is nothing to be concerned about either. These past three days have yielded a very bullish uptrend for Litecoin, combined with more than sufficient trading volume to keep traders engaged.
3D chart looks Strong. It broke the market structure on 3D chart. Will follow?
— TAcademy – Trade Different (@KiaCrypto)
While it remains to be seen how long Litecoin can remain as bullish as it is right now, a market reversal seems rather unlikely. A push to $100 seems more plausible, although it will be very difficult to reach that mental level as well. This weekend will be rather interesting from that perspective, albeit nothing is ever set in stone in this volatile industry.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
Published at Sat, 06 Apr 2019 19:25:21 +0000
