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Not a day goes by in the world of cryptocurrencies without some developments that surprise people. This is especially true when looking at prices for different currencies and assets. litecoin of price currently benefits from a brief uptrend, which puts it on track to potentially overcome both BCH and EOS in market capitalization.
The promising price trend of Litecoin continues
Cryptocurrencies and digital resources usually see some strange commercial behavior during the weekend. There is less trade volume between the stock exchanges, but that does not mean that the markets can not rise or fall dramatically. In case of litecoin, there is a very solid upward trend that is forming right now. If this momentum can be sustained for a few days, Bitcoin's silver will exceed both EOS and Bitcoin Cash in terms of market capitalization.
In the last 24 hours, there has been a net increase of 10.5% in Litecoin's dollar value. Because of this development, the current price of Litecoin is around $ 37.75, a more than respectable price. There is also an increase of 11.2% in the LTC / BTC ratio, which perhaps holds even more for traders and speculators. It should not take much effort to reach the 0.01 BTC level, although at that point there will be some key resistance.
Even if the current price trend of Litecoin seems rather tempting, it is necessary to keep in mind the big picture. As Tim de Hey points out, Litecoin's tendency may not have enough trading volume to maintain this momentum for a long time. There will be a temporary retracement at some point before resuming the uptrend, but nobody knows if and when it will happen.
$ LTC broke the inverted H & S neckline. Do not like the volume at the turn. I expected a return to the neckline and hoping for a rebound there. #Litecoin
– Tim de Hey (@tdehey) 6 January 2019
The Original Bastard has some very interesting opinions on Litecoin and other major cryptocurrencies on the market today. While these opinions serve primarily to enhance the fun, one must ask whether there is perhaps some hidden truth. It is quite evident that there is a growing dismay in this area as a whole.
Watching the Bitcoin maxipads create lightning-fast nodes while Ethereum and Litecoin in turn pump is the definition of being cooked.#Bitcoin #Litecoin #Ethereum
– The Original Bastard (@TheOGBastard) 6 January 2019
Looking at the current value of Litecoin from a technical point of view, it seems quite impossible to expect a Litecoin price of $ 4 in the near future. While most people would have loved to buy at that price right now, it might not necessarily be a value that traders and speculators ever see again. Even so, no possible scenario should be taken for granted in this area.
When litecoin 4 $?
Whennnn ??? 🚀#litecoin $ LTC– Up⚡Litecoin[LTC]{2018BearMarketSurvivor😎} (@LitecoinUp) 6 January 2019
Although all signs indicate a further push of the Litecoin price to $ 40, proceeding without a correction may not be entirely possible. It is quite unusual to see this high trading volume for LTC on Sunday, but it could be an indicator of what is yet to come in the future. An exciting market for many different reasons, although it is virtually impossible to predict future price dynamics.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
Picture (s): Shutterstock.com
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