A lot of things have changed in the world of cryptocurrency over the past 24 hours. Most of the losses have been recovered successfully, albeit some currencies do so in far more spectacular fashion compared to others. The Litecoin price, while often overlooked, has noted some strong gains over the past 24 hours. Thanks to this sudden price surge, the value of Litecoin is on the way to hit $150 again.
LITECOIN PRICE MOMENTUM LOOKS HEALTHY
Similar to most other cryptocurrencies on the market, the Litecoin price saw a rather surprising correction over the past few days. While it remains unclear why that is exactly the case, it is evident the dip has been bought up and the bullish momentum will continue unabated. As a result, we are now looking at a Litecoin price of $147.43 once again, which is a more than respectable value at this time.
With this 7.05% gain over the past 24 hours, a lot of Litecoin holders will be pleased with how things are going as of right now. It is not necessarily close to the all-time high Litecoin price of over $325, but the entire cryptocurrency market is still way down compared to what we saw during late 2017. There’s still plenty of momentum waiting to be recovered, but these small uptrends need to be taken in stride first and foremost.
As is usually the case when an altcoin’s value rises, there are some solid gains over Bitcoin as well. In the case of the Litecoin price, there is a 2.45% gain over Bitcoin, which is not necessarily all that impressive. Even so, it helps the Litecoin price move up the ranks and slowly rise to $150 again. Reaching that value may prove to be challenging, though, but one never knows what the future holds in this regard.
Thanks to $554.69m in 24-hour trading volume, the demand to buy and sell Litecoin is rather evident. For the time being, the bulls remain in control first and foremost, but there is still a lot of bearish pressure on the market overall. Any gains right now can turn into steep losses in a few hours from now. Even so, it seems today will be pretty positive for all cryptocurrencies if this trend keeps up.
Looking at the exchanges ranked by LTC trading volume OKEx has a firm grip on the market. Its USDT and BTC pairs are well ahead of GDAX’s USD pair. Bitfinex’s USD trading market and Binance’s BTC market are in the top five as well. All of this shows Litecoin has plenty of fiat currency support right now, but that is never a guarantee for success in this regard.
For the time being, it seems things look rather promising for the Litecoin price. Whether or not this positive outlook will remain in place for much longer, is a different matter altogether. Anything is possible in the cryptocurrency world these days, and there are no certainties anymore. Even so, the current Litecoin price seems to push toward $150, but anything beyond that will be difficult to predict.
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