LTC rebounding, the bulls are not content with anything below $ 55


Litecoin rebounds, the bulls are not content with anything under $ 55

The bulls are not playing today. Almost every altcoin is on the rise, and the trend is ready to continue for the rest of the week. Over the past four days, Litecoin has risen, and the currency has risen from under $ 50 to a maximum of $ 54. The bulls are firing for the $ 55 position and do not seem to stop until they reach them.

LTC / USD price table, Wednesday 7 November:

Litecoin LTC price chart, 7 November

Litecoin is one of the many coins that have suffered a dramatic drop in value in recent months. Three months ago, the currency traded at a high of $ 74. Over the three months, prices fell, reaching $ 48 lows by the end of October.

At the time of printing, the currency is traded just above the $ 54 mark. The day however saw $ 55 hit for a while before being hit by the resistance. As long as the positive momentum continues to dominate the market, the bulls will continue to push prices and look for a break above the $ 55 mark. A break above this level could see the currency rise rapidly and retest the $ 60 position.

Read also: Margin Trading For Litecoin (LTC) Enabled in OKEx

In addition to the positive momentum that surrounds the market, the currency has received some important positive news.

A few days ago, a new platform – Lite.IM announced that Litecoin owners could send and receive tokens via Facebook Messenger. This will see Litecoin become accessible to over 2 billion Facebook users. Furthermore, it will be easier for users to send and receive Litecoin. Registration to use this service will only require a valid email address and phone number.
The introduction of this platform makes Litecoin one of the most easily accessible tokens on the market, not that it was dealing with this. Now, the currency seems more set for broader adoption and greater price gains.

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