litecoin [LTC] bounces above 10.5% in one hour; Lightning network to accredit?


The cryptocurrency market has turned green and is moving towards a confident upward run in which Litecoin [LTC], the seventh largest currency by market capitalization has finally gained momentum and broke above 10.5% today. At the time of writing, the currency was trading at a relatively bullish price of $ 26.06 with a market capitalization of $ 1.55 billion. The 24-hour trading volume was recorded at $ 353.4.

Investment sentiment has clearly increased for Litecoin. One of the strongest speculations for price increases is the announcement of CoinGate which suggested the deployment of the long-awaited lightning network. Here, Charlie Lee, the creator of LTC has also retweeted the post on Twitter.

Charlie Lee's recent article Source: Twitter

Charlie Lee's recent article Source: Twitter

After breaking more supports in the 1-hour candelabra, the support level finally stabilized at $ 22.4, post that the currency started pumping with all the excitement.

LTC excursion in candles price 1 hour | Source: tradingview

LTC excursion in candles price 1 hour | Source: tradingview

At the start of the 24-hour cycle, LTC traded at a depreciated price of $ 23.5, where its market capitalization was equivalent to $ 1.4 billion. During the day, the price remained silent and stable until it took a sudden step and reached $ 26, with a million dollars added to its market capitalization, for a total of $ 1.5 billion.

However, LTC has not yet reached the peak of the week, which was reached at the start of the week at $ 26.9 with a market capitalization of $ 1.6 billion. The lowest of the week for cryptocurrency was when it was trading at $ 22.9.

Prashant Sharma, an enthusiastic cryptocurrency and blockchain of space, on the news of the announcement of Lightning Network, commented:

"Buy your Litecoins back and start the bull run: D"

Another Twitter handle called Litecoin Bull also wrote:

"If you're trying to put a big bulge in the front of my jeans, Charlie, you're definitely succeeding …"

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Priyamvada Singh

Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.

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