As more and more traders start chasing fast profits, all cryptocurrency markets are starting to show a healthy recovery. litecoin it is going through a strong push, as its value still exceeds $ 55 for the first time in several weeks. This is a rather interesting development, especially considering that Bitcoin is the only currency currently in red.
The price of Litecoin shows some moves
Although most people still neglect litecoin in 2018, it is evident that this particular market can increase in value like any other. The current price increase of Litecoin is pushing the value above $ 55, a level often regarded as a key resistance. Maintaining this trend and creating a new support line at this value will be difficult regardless.
In the last 24 hours, the increase in the LTC value has grown in volume. You can see an uptrend of the current 8% in both USD and BTC on all platforms. This is very noticeable, since alternative circuits like Litecoin usually thrive only when the value of Bitcoin increases. In today's case, Bitcoin is the only one left behind, while everything else is going up.
There are no shocking news justifying an increase in the LTC value. Instead, you have to look for the technical indicators to see what you could prepare behind the scenes. A very important level was reached for LTC all of a sudden, which may very well usher in an important turnaround for all the best cryptocurrencies. One can only hope that this vision will come true, because 2018 was not overly pleasant.
We have touched the 50 EMA on the newspaper for #LTC today.
In the event that we can rally above and support there, this could potentially be a reversal of the trend not just #LTC but also for the whole market. Let's wait #BTC. pic.twitter.com/qNtvG956SC
– Tortsch-Man [LTC] do not give away crypto (@tortsch) November 4, 2018
It is always important to keep the general picture in mind. When it comes to cryptocurrencies, trends can be formed over many months, if not years. The current bear market has existed for a long time and most people have completely forgotten how these trends have evolved in the past. The future of cryptocurrency has never been questioned in any way.
It's been almost a year since the bear market started
If you're still here, you've been conditioned and prepared for a great encrypted future
– Crypto Capital Venture ⚡ (@cryptorecruitr) 3 November 2018
For those willing to bet on current prices, it seems that there are some LTCs arbitrage options. YoBit has much higher prices than other major markets, which can allow some quick and easy profits. Always remember that exchange liquidity is a factor, and these price gaps can close at any time.
Buy a #KuCoin and sell to #YoBit. Ratio: 1.91%
Buy a #HitBTC and sell to #YoBit. Ratio: 2.61%
Buy a #OKEx and sell to #YoBit. Ratio: 2.24%
Buy a #Poloniex and sell to #YoBit. Ratio: 2.27%#bitcoin #arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC
– Arbing tool (@ArbingTool) November 4, 2018
For now, it remains to be seen whether Litecoin can remain above $ 55 for a prolonged period. It seems quite plausible, although it will require a community effort to make sure it does so. Its overall trading volume is incredibly impressive, especially for a Sunday. A healthy rebound in the market could take shape, which is what everyone has been waiting for.
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.